AWEA: PTC can still be extended in first quarter
The wind energy Production Tax Credit has not yet become part of the payroll tax extension bill. However, the situation is still developing quickly. There are a number of options and nothing is final yet.
A bipartisan group of Members of Congress are continuing to provide leadership in extending the wind PTC. They're looking at every opportunity to get this done in the first quarter, because they realize the urgency of keeping the tens of thousands of U.S. manufacturing jobs that are on the line, in particular.
The PTC needs to be passed in the first quarter to avoid losing those jobs, and there are still ways that can happen.
Sens. Jerry Moran (R-Kansas) and Michael Bennet (D-Colorado) today announced a fresh bipartisan approach to get the job done.
Meanwhile, Gov. Sam Brownback (R-Kansas) held a press conference this afternoon with John Graham, head of BP Wind Energy, and other supporters of extending the Production Tax Credit. Kansas is expected to add more wind power this year than any other, which Brownback said will bring Kansas $3 billion of new investment this year and is helping to support 2,000 Kansas jobs in component manufacturing.
Oklahoma Gov. Mary Fallin (R) yesterday wrote members of the Congressional conference committee on the payroll tax bill that, ""The PTC was originally developed and enacted into law with strong bipartisan support that continues today and is a tax policy that has been successful. The PTC should be evaluated in the future to determine its long-term viability; however, the credit needs to be extended immediately to create certainty today…Unfortunately, the leading wind project developers and manufacturers are canceling their plans for 2013 and wind development will grind to halt due to the uncertainty of a PTC extension."
One Illinois wind energy manufacturer talked of the impact on his company on The Hill's website today: http://thehill.com/blogs/congress-blog/energy-a-environment/210929-dont-raise-taxes-on-american-wind-power
Also today, a coalition of major corporations that buy large amounts of renewable energy added Hewlett-Packard to their group. Last night, Nike, Staples, Starbucks, Campbell Soup, and Yahoo joined other major companies in saying, "Eliminating the PTC will sharply increase the prices for wind energy, and particularly affect the many large and influential companies that are committee to buying and using wind energy."
AWEA is the national trade association of America's wind industry, with 1,200 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world's largest wind power trade show, the WINDPOWER Conference & Exhibition, which takes place next in Chicago, May 5-8, 2013. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. Look up information on wind energy at the AWEA website. Find insight on industry issues at AWEA's blog Into the Wind. Join AWEA on Facebook. Follow AWEA on Twitter.