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Contact Congress to Urge Them to Extend PTC & Restructure Tax Credits for Wind Energy January 12, 2009

Posted by Laura Arnold in Uncategorized.
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From the American Wind Energy Association (www.awea.org):

AWEA Legislative Alert: Contact Congress and Urge Them to Restructure and Extend the PTC.

Contact your Members of Congress and urge them to extend the PTC and restructure tax credits for wind energy.

Take Action!

The wind energy industry has the potential to be a key driver for economic recovery. More than 50 new or expanded wind industry manufacturing facilities have been announced or opened since January of 2007, creating tens of thousands of high-paying jobs. And, wind farm installations have set records for several years running.

However, the economic downturn and its impact on credit markets and profitability in the investment community now threaten to sharply reduce investments in wind energy facilities in 2009 and reverse the recent trend of very strong growth.

In order to get through this temporary downturn, the key federal incentives for renewable energy – the production tax credit (PTC) and the accelerated depreciation association with wind farms – need to be restructured so they work when few investors are making profits and have little need for tax credits.

Please contact your Members of Congress and urge them to restructure tax credits for renewable energy so they will work to deploy wind energy projects even during the economic downturn and to extend the PTC to provide additional stability to the industry.

A draft letter for you to send to your Members of Congress will appear when you enter your zip code.

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