The proposal from the Democrats and Republicans on tax incentives, known as PTC (Production Tax Credits), has been welcomed by the entire wind energy sector. The two main U.S. parties have drawn up a bill that extends over four years the system of tax incentives for wind power and which, if successful, will boost the activity of Iberdrola in the country.
The group headed by Ignacio Sanchez Galan added more than 5,000 megawatts of renewable energy in the United States and has established itself, behind Florida Power, as the second company in the wind industry in the country, where the Obama administration spends part of his incentives the economic “green”. So far this year, the company has installed 524 MW and a total 5157 MW.
The proposal from Democrats and Republicans on tax incentives, known as PTC (Production Tax Credits), has been welcomed by the entire wind energy sector. The American Wind Energy Association (AWEA) has shown its support for the initiative, which also extends support for hydropower, biomass, geothermal and waste from the city.
The association believes that “the support of both parties confirmed that the employment generated by U.S. wind energy is vital to both economic welfare and security of supply for the country” and notes that this sector is one of the most productive in the country.
In the past six years, manufacturing wind turbines in the United States has increased by twelve, to more than 400 plants in 43 states, where 75,000 people work. The industry estimates that could generate 500,000 jobs in the country over the next twenty years.
The PTC consist of a tax incentive to developers to help attract private capital to operate renewable energy projects. After four years of implementation, this incentive has attracted private investment in the country for a value close to $17,000 million (12,400 million euros).
The incentives expire in 2012 unless, as the Democrats and Republicans want to do now, the Congress extends them. The measure also has the support of a coalition of 24 state governors in favor of wind power.