ABB_id2059
in News Departments > Policy Watch
print the content item

Chambers for Innovation and Clean Energy - a clean energy network and information hub for local chambers of commerce - has joined the push for an extension of the wind energy production tax credit (PTC).

The organization, which includes 240 local chambers from 47 states, wrote to Congress to emphasize the ramifications of failing to renew the incentive. Allowing the PTC to expire, they said, would hurt local economies, send jobs and capital elsewhere, and risk ceding the U.S.' clean energy leadership to other countries.

"The PTC has enabled the industry to slash wind energy costs - 90% since 1980 - a major reason why wind energy accounts for 35% of new power capacity installed in the last four years," they wrote. “Wind power reduces electricity prices for consumers, which are set by the operating costs of power plants, i.e. fuel prices.

“Wind is free and, once installed, places downward pressure on electricity prices,” they continued. “Wind energy limits business risk from fuel price increases - the price of wind will always be zero, making it an ideal low-cost hedge against the ever-present and uncontrollable price volatility of traditional fuels.”

The full letter can be viewed here.


Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim ‘All Of The Above’ On Energy; Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015