Tell your Senators to vote for the Reid Substitute Energy Bill Amendment that contains a 2-year PTC and small wind tax credit.
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Senate leaders are working to revise the Energy Bill in hopes of securing the 60 votes needed to overcome a filibuster. The key vote will be on a Reid Amendment expected to come up for a vote tomorrow. The amendment includes a 2-year Production Tax Credit (PTC) extension at full value and a small wind tax credit. The Renewable Portfolio Standard (RPS) is unfortunately no longer included. Please contact your Senators to urge them to vote for the Reid Substitute Energy Bill Amendment, that contains a 2-year extension of the PTC and the small wind tax credit.
The PTC is an income tax credit of 2.0 cents per kilowatt hour of electricity produced from qualified wind energy facilities and other sources of renewable energy. The legislation would provide a 2-year extension of the PTC through December 31, 2010. The legislation maintains the inflation adjustment provision of existing law. The wind energy industry supports a full value, long-term PTC.
There has been no federal support for small wind systems since 1985. Meanwhile, residential solar systems, which serve the same market as small wind, currently receive a 30% investment tax credit. The PTC applies only to large utility-scale wind projects, not to individuals who want to install their own wind systems for on-site power. Federal support would help broaden the small-wind industry on a national scale.