Nebraska Legislators Introduce State Production Tax Credit

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Nebraska legislators have introduced a bill that would create a state production tax credit (PTC) for renewable energy facilities.

The bill, introduced by State Sens. Ken Haar, D-Malcolm, and Jeremy Nordquist, I-Omaha, would pay $0.015/kWh of electricity produced and would help replace the shortfall created by the expiration of the federal PTC at the end of last year.

The legislators note that a state PTC could catalyze wind energy production by offering tax incentives and reducing regulations for developers. Neighboring states, such as Oklahoma and Iowa, offer similar state tax incentives.

The bill follows a report prepared for the Nebraska Power Review Board that estimated the state could generate an additional 2 GW of renewable energy under the existing transmission system.

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