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 GrassleyGraham vows Biden, Ukraine probe after impeachment trial Social security emerges as latest flash point in Biden-Sanders tussle Trump to sign USMCA next Wednesday MORE (R-Iowa) and Mark UdallMark Emery UdallDemocrats will win back the Senate majority in 2020, all thanks to President Trump Poll: Trump trails three Democrats by 10 points in Colorado The Hill's Morning Report — Trump and the new Israel-'squad' controversy MORE (D-Colo.), along with 24 other senators.

ADVERTISEMENT

“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 KingNebraska Democratic Party Chair: Rural vote should be 'bedrock' of party With surge in anti-Semitism, political leaders need to be aggressive and reflective in response Steve King challenger: 2020 Democrats have 'huge' opportunity to win over rural America MORE (R-Iowa) and Dave LoebsackDavid (Dave) Wayne LoebsackButtigieg picks up Iowa congressman's endorsement ahead of caucuses How the 31 Democrats in Trump districts voted on impeachment Nearly all Democrats expected to back articles of impeachment 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