Iowa’s anti-wind groups fighting tax credits

Iowa’s anti-wind groups fighting tax credits

Iowa is leading in wind energy production in the US

An anti-wind action group in Iowa, not surprisingly funded by oil businesses, is trying to take a stab at the wind energy tax credits in the state. Congress will have to make a decision on the federal wind energy production tax credit and 50 other tax incentives by next month.
However, wind continues to have some support. U.S. Rep. Dave Loebsack said:
“As part of a national energy strategy, we need to prioritize clean energy like wind and act immediately to pass an extension of the (tax credit),”
“I believe that as long as gas and oil companies continue to receive tax credits, in light of billions of dollars in profits, we need to continue to provide support for home grown, clean energy.”
The state of Iowa produced over 5000 MW of electricity and generated 27.4% of its energy demands through wind in 2013; and is responsible for over 7000 jobs.
Sen. Chuck Grassley, who had a hand in the creation of the wind energy tax credit back in the 90’s has openly discussed the phase out of the incentive recently in the senate:
“After more than 20 years of this subsidy, I think taxpayers are ready to let the industry stand on its own,” Klein said.
“I know it won’t go on forever. It was never meant to, and it shouldn’t; I’m happy to discuss a responsible, multiyear phase out of the wind tax credit.
“But any phase out must be done in the context of comprehensive tax reform, where all energy tax provisions are on the table. And it should be done responsibly over a few years to provide certainty and ensure a viable industry.”
I think many anti-wind groups are surprised that wind energy has been as lucrative and sustainable as it has been despite not getting the same financial backing as traditional sources of electricity generation. I hope the industry continues to thrive, with or without incentives.

Posted By Sally on December 5, 2014 | 0 Comment

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