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Here is the text of Grassley's address:
This week, Iowa's largest energy company announced it will seek to add enough wind generation in Iowa by the end of 2015 to require an additional 656 wind turbines in Iowa.
This investment is more good news about wind energy production. It emphasizes the value and the success of the federal production tax credit.
Wind energy is proving that it's a force in America's energy supply -- providing clean, renewable, and home-grown power. Wind energy comes from local farms, it's for local customers and, most often, adds investment value to local communities.
Nationwide, the wind-energy industry supports 75,000 jobs. Iowa ranks second among all states for wind production, and there are 6,000 wind-energy related jobs in Iowa.
I've worked to extend the wind energy production tax credit numerous times since I first authored it as part of the Energy Policy Act of 1992. Producers are eligible for a tax credit for each kilowatt-hour of electricity produced by a qualified project during the first 10 years of operations. Right now, the tax credit is 2.2 cents per kilowatt-hour.
The wind-energy production tax credit is available when wind energy is produced, so it's tax relief that rewards results.
