View this email in a web browser.
Renewable power advocates promise continued push for tax credit extension
Even as renewables advocates today lamented lawmakers’ move not to use a bipartisan payroll tax deal as a vehicle to extend a much-watched clean power tax credit, they vowed to keep pressing for a reprieve ahead of a year-end expiration date that could trigger layoffs in coming months. The final payroll tax cut deal signed by congressional conferees today, which shifts the rules governing federal employee pension contributions (see related story), didn’t give the production tax credit (PTC) for wind, biomass, solar and other renewable energy sources life beyond this year, despite support from top Senate Democratic negotiator Max Baucus of Montana. The omission emerged as the Obama administration continues to warn of adverse consequences if Congress does not act soon to extend the credit. [ read more … ]
Congress deals major blow to wind power industry
The wind industry is predicting massive layoffs and stalled or abandoned projects after a deal to renew a tax credit for wind production failed Thursday in Washington. The move is expected to have major ramifications in states such as Illinois, where 13,892 megawatts of wind projects-enough to power 3.3 million homes per year-wait to be connected to the electric grid. [ read more … ]
Patrick: NStar to buy Cape Wind energy in merger deal
Gov. Deval Patrick, who has been trying to strong-arm Nstar into purchasing electricity from his pet energy project Cape Wind, announced today that the utility will buy 27.5 percent of the proposed offshore wind project’s electricity as part of a deal allowing the mega-merger of Nstar and Northeast Utilities. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.