The American Wind Energy Association (AWEA) hailed Senate approval of the recent economic stimulus bill, which includes several provisions designed to create incentives for wind and other renewable energy industries.
‘This stimulus package is a critical down payment on long-term policies to enhance energy security, encourage new economic investment in jobs and address climate change,’ says Greg Wetstone, AWEA's senior director for governmental affairs.
The Senate-passed bill includes a $7 billion renewable energy loan guarantee program (an amount that is $1 billion less than the level provided in the House version of the bill), a three-year extension of the federal production tax credit, an additional year of bonus depreciation for 2009, elimination of the cost caps for the small wind investment tax credit and targeted provisions to encourage construction of new transmission lines to deliver electricity generated from renewables.
Wetstone noted that the industry will be pushing for inclusion in the final legislation of a Department of Energy grant program included in the House bill last month.
SOURCE: American Wind Energy Association