Atlanta, GA– Today President Obama will sign into law a bill that extends key tax credits for wind power and averts the ‘fiscal cliff.’ The main federal incentives for wind power – the renewable energy Production Tax Credit (PTC) and the offshore wind Investment Tax Credit (ITC) – expired on December 31, 2012, but with today’s new law will now be available for wind power projects that start construction over the next year, allowing for continued growth of wind power in the U.S. and setting the stage for offshore wind in Georgia.
Environment Georgia Policy Advocate, Jennette Gayer, released the following statement:
"President Obama and Senators Chambliss and Isakson helped make this a happy holiday for our health and our environment by extending critical tax credits for wind energy.
“Wind powers nearly 13 million homes across the country and states like Texas, the number one wind energy producer in the country, generate a little over 30 million MWh/year. This means they avoid over 17 million metric tons of carbon dioxide emissions and save 6.54 billion gallons of water per year or enough water for 130,800 people.”
“We applaud our leaders for recognizing these tremendous benefits to our water supply, health and environment, and for acting to ensure the continued development of pollution-free wind energy.”