Lawmakers urge renewal of wind energy tax credits

A group of 144 members of the Congress sent letters Friday urging their colleagues to renew tax credits that help the wind energy industry.

The members want credits for investment in renewable energy technology and production of electricity to be renewed. Both credits expired at the end of 2013.

“Like all businesses, the wind industry seeks certainty and predictability so that long-term project decisions and investments can be made,” said the letter signed by Sens. Chuck GrassleyCharles (Chuck) Ernest GrassleyGrassley blasts Democrats over unwillingness to probe Clinton GOP and Dems bitterly divided by immigration Thanks to the farm lobby, the US is stuck with a broken ethanol policy MORE (R-Iowa) and Mark UdallMark UdallDemocratic primary could upend bid for Colorado seat Picking 2018 candidates pits McConnell vs. GOP groups Gorsuch's critics, running out of arguments, falsely scream 'sexist' MORE (D-Colo.), along with 24 other senators.

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“Without that stability, we once again risk losing many of the jobs, infrastructure and investment that the wind industry has created,” they wrote.

Reps. Steve KingSteven (Steve) Arnold KingDem proposes repealing Capitol gun ban in response to concealed-carry bill More than a dozen lawmakers put family on campaign payroll Steve King defends Arpaio: 'I don't agree that profiling is wrong' MORE (R-Iowa) and Dave LoebsackDavid (Dave) Wayne LoebsackBill would cut lawmaker salaries Bipartisan duo praises Ethics Committee reversal Lawmakers urge renewal of wind energy tax credits MORE (D-Iowa) sent a similar letter along with 116 of their colleagues.

The production tax credit (PTC) provided 2.3 cents per kilowatt-hour for wind turbines during the first 10 years of the utilities’ operations and 1.1 cents for some other renewable energy sources. The investment tax credit (ITC) was worth up to 30 percent of the costs of developing wind turbines, and 10 percent or 30 percent for other sources.

“We look forward to Congress, in particular the Senate Finance Committee, acting quickly to extend the PTC and ITC so that the U.S. remains a global leader and our businesses can continue building, expanding and hiring,” Tom Kiernan, CEO of the American Wind Energy Association, said in a Friday statement.

The Senate Finance Committee will consider extending more than 50 tax incentives, including the renewable energy credits, next month, the committee said Wednesday