US bill extends wind energy PTC

Two US members of Congress have introduced a bill to renew expired renewable energy tax credits.

Democratic representatives Earl Blumenauer of Oregon and Dave Loebsack of Iowa, along with 16 other members of Congress, introduced HR 5559, the Bridge to a Clean Energy Future Act of 2014.

The proposal would extend the production tax credits (PTC) for wind energy through 2016. It would also grant the solar energy industry the same access to credits at the start of a project’s construction that the wind industry has.

“We understand the importance of stability and security in the clean energy sector,” said Blumenauer. “Making sure these energy sources are on an even playing field with the fossil fuel industry is essential to lowering carbon emissions.”

Loebsack said: “Like all businesses, the wind energy sector needs stability and predictability so long term investments and business decisions can be made.

“For our nation to move towards energy independence and continued job growth, we need to prioritize clean energy like wind and act immediately to pass this extension of the PTC.”

The PTC expired for projects that did not start construction by year-end 2013.