I recently met with Ways and Means Committee Chairman, Dave Camp (R-MI), and urged him to push for renewal of the PTC, production tax credit for wind (and some other renewable) energy.
The PTC expires next year, and its historically been a political football, which has hampered the development of the US wind industry, and allowed our competitors to leap ahead in this critical 21st century technology. The record (below) shows how the growth of the industry tends to crash when the PTC is allowed to expire. Companies and investors need stability over an adequate time horizon to make the investments required for long term growth.
The American Wind Energy Association points out:
With the support of the PTC, the U.S. wind energy industry has achieved impressive numbers:
• Over 400 facilities across 43 states manufacture for the wind energy industry.
• 60% of a wind turbine’s value is now produced here in America, compared to 25% prior to 2005.
• Over 90% drop in the price of wind power since 1980, benefiting utilities and consumers.
• More than $60 billion of investment since 2005
Dave was non-commital, and mumbled something about the bogus Solyndra non-story that’s so popular on Fox News. I’ll be getting back to him and his staff in coming months.
Camp, and every representative, need to be prompted to renew this essential part of the US’s competitive strategy for the new century.
Go Here to find the contact for your rep. I won’t tell you what to say – you know what has to be done.
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