|
Rural Wind Energy Development Act |
|
|
|
|
Written by jonathan pitzer
|
|
Sunday, 16 March 2008 |
|
Speech by the Honorable Earl Blumenauer of Oregon on March 29, 2007 in front of the United States House of Representatives regarding the Rural Wind Energy Development Act.
Mr. BLUMENAUER. Madam Speaker, today I am proud join with my colleague, Representative TOM COLE, to introduce the ‘‘Rural Wind Energy Development Act,’’ which would provide an investment tax credit to individuals— homeowners, farmers, and small businesses— to offset the up-front costs of owning a small wind turbine. Small wind systems are electric generators that produce 100 kilowatts or less of clean and renewable energy to power homes, farms, and small businesses. With these small turbines, individuals can generate their own power, independent from the electric grid. These wind turbines will allow consumers to cut their energy bills and, at times, put power back into the grid. According to the American Wind Energy Association, a single wind turbine can provide $2,000–$4,000/year per megawatt or more in additional farm income. This legislation is necessary because there is no Federal support for small wind systems. The Federal Production Tax Credit (PTC) applies mainly to large utility-scale wind projects, not to individuals who want to install their own wind systems for on-site power. An investment tax credit for small wind systems will help provide stability and certainty for the industry to make the necessary investments to grow. It will also help consumers afford this pollutionfree energy. In the 2005 Energy Policy Act, residential solar systems received a similar investment tax credit and saw an increase of more than 20 percent in installations over the last year. Specifically, this bill would provide a tax credit of $1500 per 1⁄2 kilowatt of capacity for small wind systems, which could be carried over for a customer unable to take advantage of the entire credit within a 1 year period. The bill also calls for a 3-year accelerated depreciation for wind property. I hope all of my colleagues will join me in supporting this important policy to promote wind power, which produces no harmful greenhouse gas emissions, involves no environmentally damaging natural resource extraction such as mining or drilling, and does not need fuel imported from foreign governments to run. |
