Governors pitch PTC extension

Source: By Renewable Energy News • Posted: Wednesday, December 3, 2014

A group of US state governors is urging Congress to approve a multi-year extension of the production tax credit and investment tax credit as soon as possible.

A two-year PTC and ITC renewal is included in the bipartisan Senate EXPIRE Act.

“Our states are national leaders in wind power,” said the coalition chairman, vice-chairman and former chairmen in a letter to House and Senate leaders, citing significant gains in South Dakota, Washington, Oregon and Iowa.

“These achievements are directly attributable to the PTC — a successful federal policy that, along with supportive state policies, continues to drive private investment in our states,” said the Governors’ Wind Energy Coalition.

“The PTC and the ITC have proven to be an excellent return on the taxpayers’ dollar. We urge you to seek its inclusion in an end-of-year tax extenders package.”

A recent Gotham Research Group poll found that 73% of registered voters, including wide majorities of Republicans, Democrats and Independents, support keeping the PTC, reported the American Wind Energy Association.

“These poll results couldn’t be clearer,” said AWEA CEO Tom Kiernan.

“It’s time for Congress to do what the majority of Americans want – and that means extending the production tax credit so we can keep scaling up this critically important American energy source.”

Lawmakers have yet to schedule a vote on the tax extenders package and plan to adjourn for the year by 11 December.

The credits were among about 50 tax breaks that expired in 2013. The PTC pays 2.3 cents/kWh during the first 10 years of wind farm operation and the ITC is worth up to 30% of the costs of developing and building wind projects.