Renew the Wind Production Tax Credit

Floor Speech

Mr. POLIS. Mr. Speaker, I rise today as a member of the House Sustainable Energy and Environment Coalition to call on Congress to renew the wind production tax credit.

The wind production tax credit incentivizes clean, domestic energy generation, and has been critical to enhancing America's renewable energy renaissance. Wind energy creates jobs, saves consumers money on their utility bills, and reduces carbon emissions.

Wind energy, and the industry it supports, is important to Colorado. Wind power supplies over 800,000 Colorado homes and employs approximately 5,000 Coloradans. In addition, a thriving wind industry has brought over $4.2 billion in capital investments and provided land owners and communities with millions in land lease payments.

Most Americans support renewable energy. In fact, thirty states and the District of Columbia already have renewable generation standards and seven states have voluntary goals. Colorado has capitalized on its tremendous wind potential by enacting one of the highest Renewable Portfolio Standards in the nation--30 percent renewable energy generation by 2020. Colorado utilities are ahead of schedule in achieving this goal and in doing so they are discovering that wind energy makes economic sense for their ratepayers and their investors.

Last year I introduced the Renewable Electricity Standard Act with Representatives BEN RAY LUJÁN and ANN KUSTER. This legislation would build on the success of state-based renewable energy standards by implementing a 25 percent renewable energy goal by 2025. Providing tax credits for renewable energy development is not just important for meeting these goals, but is also important to level the playing field with our energy industries that receive a myriad of tax credits and incentives.

The wind production tax credit has fueled a thriving U.S. wind energy market. This tax incentive drives increased investments and stimulates the economy. As a former entrepreneur, I know that uncertainty about the production tax credit will slow wind energy deployment, put good quality jobs at risk, and cause capital investments to dwindle. That is why we must renew a long-term wind production tax credit.

The wind production tax credit is essential to American jobs, economic growth, and the success of the wind energy industry. We must renew the wind production tax credit.

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