Tell your Senators to vote for the energy bill that contains the RPS, PTC and small wind tax credit.
Take Action!
The House of Representatives just passed energy legislation that includes a Renewable Portfolio Standard (RPS), a tax title that extends the Production Tax Credit (PTC) for 4-years and a small wind investment tax credit (ITC). The Senate will now consider the Energy Bill. We expect a fight for the Energy Bill in the Senate. Contact your Senators now and urge them to support the Energy Bill.
Please contact your Senators and ask them support the RPS, the PTC extension and the ITC in the Energy bill. The Energy bill is expected to be voted on in Senate soon.
Background on RPS. An RPS is a flexible, market-driven policy that can ensure that the public benefits of renewable energy, such as wind, continue to be recognized as electricity markets become more competitive. The legislation would require utilities to generate or purchase 15% of electricity from renewable energy sources by the year 2020 and would allow up to 4% of the 15% requirement to be met through energy efficiency measures.
Background on PTC. 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 4-year extension of the PTC through December 31, 2012. The legislation maintains the inflation adjustment provision of existing law, but would cap the value of the PTC at the lesser of 2.0 cents per kilowatt-hour (plus inflation) or the equivalent of a 35 percent investment tax credit, based on project costs. The wind energy industry supports a full value, long-term PTC.