Extending the Production Tax Credit (PTC)
The federal renewable energy Production Tax Credit (PTC) offers incentives to companies that produce clean energy to continue to innovate and develop new, efficient ways of producing power. The PTC helps these companies create jobs produce renewable energy, and foster growth in emerging technologies. To keep the important renewable energy sector moving forward, Congress must act to prevent the expiration of this important tax credit.
The PTC for wind energy has already led to strong growth in this emerging energy industry. Congress did the right thing by extending the credit in 2012.
Wind energy is a sector that has seen enormous growth in the past few years. It promises not only jobs and a homegrown clean energy source, but benefits for American energy consumers. Researchers have concluded that wind energy on a large scale could save households $200 per year. T
It has recently come to light that some of the forces in Washington arguing against a PTC extension are big special interests trying to protect their bottom line. Wind energy has been shown to lower energy prices on wholesale markets - - something that is good for consumers. For big energy companies, however, lower prices are bad. Lower energy prices mean lower profits for big power companies that cannot keep charging the same prices they do now for power. Frightened by the declining price of power on competitive markets, these companies, like Exelon, are attacking the PTC and potentially costing Americans jobs and lower energy bills in the process.
- Exelon May Be Feeling a Bit Winded
- Wind Association Drops Utility Over Tax Incentive
- Unusual Coalitions Clash Over Wind Energy Tax Credit
- Concern Over Nuclear Competition Drove Exelon's Opposition to PTC
- Note to Exelon: You Can't Have It Both Ways
- The Potential Rate Effects of Wind Energy Transmission in the Midwest ISO Region
- Building Wind Energy Can Save Midwestern Consumers $200 Per Year
- Wind Power Helps to Lower Electricity Prices
- Impact of the Production Tax Credit on the US Wind Market
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