As we've been discussing, in less than three weeks, certain tax incentives that encourage growth in the clean energy sector, resulting in thousands of jobs and improved public health conditions, are set to expire. Along with acting quickly to renew these investments for a cleaner energy economy, Congress must also act to incentivize offshore wind energy development if it has America's best interests in mind.
The development of offshore wind will dramatically reduce our dependence on fossil fuels and make a significant impact in acting against global climate change. Investing in offshore wind would result in huge payoffs: according to the Department of Energy, the U.S. has enough offshore wind energy potential to power the country four times over.
The Investment Tax Credit (ITC) is critical to kick offshore wind energy development into high gear. America has some of the best offshore wind resources in the world, and it's time to tap into that powerful potential. Over 1,300 gigawatts of energy generation potential have been identified along the Atlantic coast. Harnessing even a fraction of that potential could power over 14 million American homes with local, carbon-free energy and generate over $200 billion in revenues for local economies. Now those are some wind energy statistics to blow anyone away!
Implementing a long-term tax incentive would make offshore wind energy an affordable, viable option for American consumers and would launch this powerful energy source from margins to mainstream. Americans would benefit from the thousands of new jobs that would be created, healthier air and water for their children and communities, and a significant impact against global climate change. The potential is there along with the incentives - all Congress has to do is vote YES.
TAKE ACTION: Tell Congress to renew the clean energy and energy efficiency tax incentives!
-- Rudhdi Karnik, Sierra Club Beyond Coal Campaign Media Assistant. Photo is of the Lillgrund offshore wind farm in Sweden.