Signs of Life for Key Wind Investments in Congress - Will They Continue?
The facts are speaking for themselves: wind is winning. But is Congress listening?
Deemed the fastest-growing energy source in the world, wind has created 80,000 jobs at over 550 U.S.-based manufacturing facilities, powered over 15 million homes, and added $105 billion in domestic investments over the last 10 years. In the face of severe weather and extreme climate disruption, wind has offered the U.S. and the world the opportunity to invest in a clean solution to meet our energy demand without exacerbating climate disruption.
But without the support of our legislators, the wind industry could--to the detriment of millions of Americans and our environment--slow its progress.
The Production Tax Credit (PTC) was enacted as a temporary provision over two decades ago as a part of the Energy Policy Act. Despite expiring eight times, the PTC has led to continual progress and job-creation in the wind industry.
More than four months ago, however, the PTC expired once again, leaving the wind industry in the lurch. In a positive move last week, the Senate Finance Committee advanced a package of renewable energy tax credits--including the PTC--marking the first step toward future wind progress. The next step in the process is moving the legislation to the Senate floor where it will likely face staunch opposition from Republican climate deniers.
But the facts don’t lie. Wind energy has created thousands of jobs and invested millions in our economy, and failing to renew the PTC would be economically and environmentally irresponsible.
A recent report released by the National Renewable Energy Laboratory (NREL) reveals that “U.S. wind power deployment through 2020 is sensitive to both the prospective PTC level and market conditions over time.”
The report continues, “a reduction in domestic wind power deployment is likely to have a direct and negative effect on U.S.-based wind turbine manufacturing production and employment. This is notable as the manufacturing sector has been observed to represent a substantial share of wind industry jobs.” If recent history has taught us anything, it is that reductions in demand will rapidly lead to factory closures and job losses.
The report predicts that without a PTC renewal, yearly wind installations will drop to as little as 3-gigawatts a year, though by 2020, experts expect 9.6-gigawatts will be needed per year to help fill the 80 percent energy supply gap left by retiring coal plants. Additionally, the report calls for 38 gigawatts of wind energy to be added each year to completely decarbonize the energy sector by 2030.
Essentially, we won’t be able to meet our clean energy needs without wind and the PTC.
Wind energy has seen development and job creation in over 70 percent of congressional districts. If our members of congress are serious about creating jobs and bolstering our economy, they should support the PTC and invest in a clean energy future for their constituents, our generation, and the generations to come. Click here to take action and tell your member of Congress to extend this critical credit.
--Radha Adhar, Associate Washington Representative