Wind power Industry calls for prompt extension of incentive to sustain

[JohnWxy]

... momentum, reasure investors, strengthen economy

http://www.awea.org/newsroom/releases/AWEA_Market_Release_Q108.html


With the fate of a key federal incentive in the balance, the U.S. wind energy industry continued new installations at a breakneck pace in the first quarter of 2008, putting 1,400 megawatts (MW) or approximately $3 billion worth of new generating capacity in place, the American Wind Energy Association (AWEA) said today in its quarterly market report.

“These new wind power plants—enough to serve the equivalent of 400,000 homes--coupled with investment in 17 new manufacturing facilities over the past year and a quarter show that – with consistent policy support – America’s wind industry can deliver the goods in terms of clean energy and new clean technology jobs,” commented AWEA Executive Director Randall Swisher.

“But if Congress does not act quickly, this momentum could be derailed at the worst possible time for the economy, placing 76,000 jobs and over $11.5 billion in investment at risk,“ Swisher added. “While 2008 is shaping up to be another great year, we could see a very different story in 2009 as uncertainty looms over investment in wind power projects and manufacturing due to continuing delay in extending the production tax credit (PTC),” Swisher added. The PTC is the primary federal incentive for wind power, and expires at the end of the year along with incentives for other renewable electricity sources.

At previous times when the credit has lapsed (1999, 2001 and 2003), installations have dropped by as much as 93% in the following year,