Iowa Senate votes to expand wind energy tax credits

Des Moines Register • Posted: Wednesday, April 11, 2012

The Iowa Senate today approved a bill that would expand Iowa’s wind energy tax credit.

Senate file 2326 would add a total of around 100 megawatts of newly developed wind energy eligible for a tax credit, enough to power about 78,000 homes.

The credit, eligible for projects built between 2015 and 2019, largely builds upon incentives the state put into place in previous years that has helped make Iowa the second-highest wind energy generator in the nation. The cost of the additional incentives would be $63.9 million, according to an estimate from the nonpartisan Iowa Legislative Services Agency.

The bill passed in a 41 to 9 vote and now heads to the House for further consideration.