Whether you live in rural Iowa or downtown Chicago, adding wind energy to the electric generation mix helps your utilities reduce electricity prices across the regions they serve. Because it has zero fuel cost, wind energy protects consumers from volatile fossil fuel prices; much like a fixed-rate mortgage protects homeowners from fluctuating interest rates. However, the government may not renew crucial tax credits that allow wind energy companies to produce efficient, low cost energy right here in the U.S.
America needs a secure, diverse supply of homegrown energy resources to power the nation. We also need to put more people back to work. Wind energy delivers in both of these areas with help from the federal renewable energy Production Tax Credit (PTC) and Investment Tax Credit (ITC).
The PTC and ITC have also been effective tools to keep electricity rates low and encourage development of proven renewable energy projects. These credits have driven tremendous wind industry investment, supported manufacturing advances, and reduced costs. However, these tax incentives are set to expire at the end of 2013.
Urge Congress to establish stable policies for the renewable wind industry beyond December 31.
As you work to reform the tax code, I urge you to establish long-term, predictable tax policies for the wind power industry.
I believe that wind power is an important part of our country's electricity mix. It is a clean source of energy - it will not pollute our air. It is a homegrown source of energy - it does not require importation from any other country, and it's creating jobs right here in America. And, it is renewable - this fuel source will never run out. Its fuel cost won't change either - it guarantees consumers low prices for the lifetime of each project.
Incentives at the federal and state level have long been used in the U.S. to encourage investment in domestic, homegrown, affordable energy production, with every energy source receiving government support today. Equipped with long-term tax policy support, the wind industry will be able to continue lowering the cost of wind power and channeling billions of dollars in private investment into the economy every year.
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Again, I urge you to establish long-term, predictable tax policies for the wind power industry.
I appreciate your consideration of these comments.
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