Thank Congress for Extending the Renewable Energy Tax Credits Print
News Releases - Science & Technology
Written by Chris Chwastyk   
Monday, 04 February 2013 15:20
Business is picking up in the wind industry now that Congress has extended the renewable energy production tax credit (PTC) and investment tax credit (ITC).  We encourage you to take a moment to write to your legislators and thank them for extending the renewable energy tax credits.

Among the positive announcements that have been made since January 2, when President Obama signed the legislation extending the tax credits into law, are the following: 
  • Wind project development company First Wind announced that they are projecting a 50 percent growth in business over the coming year, which translates to another 500 megawatts of wind projects.  “That will mean jobs and investment, and consumers will be getting clean energy at a competitive price,” CEO Paul Gaynor told the Boston Business Journal.

  • Wind project development company Midwest Wind Energy announced that they are moving forward with construction of their 75 megawatt wind project in Nebraska.  “There are several business decisions that play into the schedule (turbine purchasing, sale of the asset to equity, etc.) but the PTC was the last remaining stumbling block,” Director of Development Tom Swierczewski told the Kearney Hub.

  • Carbon fiber manufacturer Zoltek announced that the PTC extension will help the company keep up the momentum from its high-performing year in 2012.  “This is definitely helpful because investors were holding back on projects to see what would happen,” Chairman and CEO Zsolt Rumy told the St. Louis Business Journal.
We have been very pleased to see these news stories, and many others about wind projects that are ready to be built, and manufacturing orders that are ready to be placed.  Please click here to make sure that your legislators hear about these positive developments in the wind energy industry!

Thanks again for your tireless efforts last year to urge your legislators to extend the wind energy tax credits.  We hope you are glad to see that your efforts are paying off.