Saturday, November 24, 2012

Wind Energy Jobs in Colorado Depend on PTC

The wind energy Production Tax Credit (PTC) is scheduled to expire at the end of 2012.  The credit promotes wind energy generation and improves its financial feasibility through use of an income tax credit of 2.2 cents per kilowatt hour of wind energy produced.  This makes private financing for wind generation developments attractive and drives demand for blades, turbines and other wind farm components.   The uncertainty surrounding the availability of this credit is causing layoffs in  the wind industry in Colorado and hurting regional economic development.   For example Vestas has laid off manufacturing workers at its blade factories in Brighton and Windsor and has eliminated research and development jobs in Louisville, Colorado.

The U.S. Congress should pass and the President should sign a long term renewal of the PTC.  This would reduce financial uncertainty surrounding investments in wind generation and promote clean energy, economic security and job creation in Colorado and the U.S.

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