The American Wind Energy Association (AWEA) issued the following
statement applauding the release of the Growing Renewable Energy and
Efficiency Now (GREEN) Act by Congressman Richard Neal (D-MA), Chairman
of the U.S. House Committee on Ways and Means. The legislation includes
an extension of the Wind Production Tax Credit (PTC) at 60% for five
years and extends the offshore wind Investment Tax Credit (ITC) for five
years. The wind energy tax credit is expiring this year, while other
energy sources have permanent tax credits.
“We commend Chairman Neal for his leadership in recognizing the value of
the PTC and ITC in promoting economic growth and reducing carbon
emissions. Federal tax incentives for renewable technologies like wind
and solar have been an indisputable federal policy success and this
legislation will extend tax credits for onshore and offshore wind
energy, putting the industry a step closer to tax policy parity with
other energy sources” said Tom Kiernan, CEO of AWEA.
“The market has changed significantly since 2015 – national carbon
policy hasn’t materialized, and we have new tariffs significantly
raising the cost of wind energy and U.S. manufacturing. While we support
the bill, offshore wind is an emerging industry at a critical juncture,
and we would like to see longer-term support for its development,
similar to the ITC extension through 2026 as prescribed in HR 4887
by Rep. Pascrell (D-NJ). The GREEN Act provide a step towards tax
policy parity to cost-effectively meet strong consumer demand for clean
energy. We look forward to working with Chairman Neal and the House in
passing this important legislation.”
