Help extend the wind industry’s top policy driver, the federal production tax credit (PTC), for four years. Encourage your representative to cosponsor H.R. 3077, The American Renewable Energy Production Tax Credit Extension Act of 2011.
America needs homegrown energy resources to power the nation and with our economy struggling, we’re in dire need of American jobs. Wind energy delivers in both of these areas. The PTC has been instrumental in helping the wind industry to:
• Lower the cost of wind power by more than 90%
• Foster economic development in all 50 states
• Manufacture components for wind turbines at over 400 U.S. manufacturing facilities
• Power the equivalent of 10 million American homes
Facing the threat of the PTC expiring, wind project developers are hesitant to plan future U.S. projects and American manufacturers have seen a marked decrease in orders. Job layoffs have already begun. The wind industry is facing the recurrence of the boom-bust cycle it saw in previous years when the PTC was allowed to expire. In the years following expiration, installations dropped by between 73 and 93 percent, resulting in significant job losses.
The PTC is a tax incentive that helps keep electricity rates low and encourages development of proven clean energy projects. The PTC will expire in 2012 unless Congress takes action. Failure to extend the PTC will lead to thousands of job losses and put the brakes on the vast progress we’ve made as a nation toward making clean, affordable, homegrown wind energy part of the U.S. electricity portfolio.