Why Congress Must Extend The Federal Wind Energy Production Reduction Through The Top Of 2015.
We worry something less can result next year in reduced wind energy investment and fewer wind energy comes at a key time of growth and promise for the business.
Earlier this month, the House passed extensions of the reduction (2.2 cents for each kilowatt-hour of electricity generated), however solely through the top of 2014. Beneath this extension, any wind generation project beneath construction before the top of this year is eligible for the credit once it begins to get power, however no such guarantee exists for comes started next year.
In maybe no alternative state is that this discussion additional vital than in Iowa.
– Iowa ranks third within the nation working associated with the wind energy business.
– Iowa is initial within the nation in terms of share of total generation of electricity from wind energy.
– In could 2013, Gov. Terry Branstad and officers of MidAmerican Energy Co. declared plans for the biggest economic development investment in Iowa history: A $1.9 billion wind energy project involving the addition of 656 new wind turbines. In Oct 2014, MidAmerican declared it’ll install sixty seven additional wind turbines in author County and Adams County at a price of $280 million.
– In Gregorian calendar month 2014, plans were declared for Sabre Industries to create between two,000 and 3,000 utility poles for Houston-based Clean Line Energy Partners at a price of $150 million to $200 million. contingent necessary approval from utility regulators in wedged states, Clean Line can use the poles for a high-voltage conductor through that electricity generated by wind generation in Northwest Iowa, Northeast Cornhusker State, Southeast Mount Rushmore State and Southwest American state are going to be delivered to railroad Chicago and alternative jap states by 2017.
In alternative words, wind is massive in our state.
At a time once jobs, energy independence and manufacturing clean, renewable fuels square measure close to the highest of this nation’s list of priorities, renewal of the wind energy production reduction on the far side 2014 is, in our read, cash well spent for America, too.
We don’t afflict people who say the wind energy business ought to stand on its own at some purpose, however this could happen step by step and fairly.
To this finish, we have a tendency to embrace the position of fractional monetary unit. Charles Grassley, R-Iowa, author of the reduction, UN agency aforementioned he’s receptive its phased elimination, however to not singling it out for complete elimination all quickly.
“I comprehend it will not maintain forever. it absolutely was ne’er meant to, and it should not,” Grassley aforementioned recently on the U.S. Senate floor. “I’m happy to debate a accountable, multi-year phaseout of the wind reduction. In 2012, the wind energy business was the sole business to place forward a phaseout arrange.”
Any phaseout of the reduction, Grassley aforementioned, ought to happen inside the context of comprehensive tax reform within which all energy tax breaks square measure on the table. Let’s not forget, the oil, fossil fuel, coal and nuclear energy industries get federal tax breaks, too,
“And it ought to be done responsibly over a number of years to produce certainty and guarantee a viable business,” he said.
That, in our read, may be a reasoned arrange.
First, though, Congress ought to extend the wind reduction through the top of next year to get rid of immediate uncertainty and forestall devastating consequences inside the business.
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