US Offshore Wind WORKS Campaign Supports PTC, ITC

Press Release
Thursday, December 06, 2012
Photo credit CESA

Managers of the campaign, Clean Energy States Alliance (CESA) submit letter to key Congressional committee leaders.

The letter is in support of the Production Tax Credit (PTC) and Investment Tax Credit (ITC), federal policies that are crucial for sustained clean energy development.

From the letter:

[CESA members’] state-based programs are a major driver of clean energy deployment and investment in the United States. Our latest report, The Rising Tide of State-Supported Clean Energy Projects: Project Development Results from the CESA Database, 1998-2011 , found that during that 14- year period, the state-administered programs invested over $3.4 billion dollars to support the deployment of more than 129,000 renewable energy projects, including solar, biomass, and wind projects.

The states, however, cannot build a strong clean energy economic sector without federal policy support. In particular, the federal PTC and ITC have been highly effective tools to complement state support for development of renewable energy projects. For example, the PTC, combined with state clean energy program support and renewable portfolio standards, has allowed the wind industry to lower the cost of wind power by more than 90%, provide power to the equivalent of over 12 million American homes, and foster economic development in all 50 states.

With the PTC and ITC set to expire at the end of 2012, and current gridlock over fiscal cliff negotiations between Congress and the President, such bipartisan support for these policies are crucial. Failure to extend these federal tax credits will lead to significant job losses and roll back progress that the states have made to diversify the U.S. electricity portfolio, and will stymie ongoing efforts to build the U.S. offshore wind industry.


Legal

Asia’s Biggest Container Shipper Posts Loss

Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

Foreship Establishes Tallinn Subsidiary

Naval architect and marine engineering company Foreship has created a wholly-owned subsidiary located in Tallinn to strengthen ties with shipowners, shipyards and

Offshore

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Energy

Viking Grace Marks 1,000 LNG Bunkering Milestone

From the very beginning, the M/S Viking Grace – delivered in January 2013 – was an environmental milestone.   The vessel attracted global attention as an environmental

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Government Update

Cochin Port Gets a Little 'Breathing Space'

The Cabinet Committee on Economic Affairs of India, chaired by the Prime Minister Narendra Modi, has given its approval for waiver of penal interest on Government

Iran Vessels Make 'High Speed Intercept' of US Ship

Four of Iran's Islamic Revolutionary Guard Corps (IRGC) vessels "harassed" a U.S. warship on Tuesday near the Strait of Hormuz, a U.S. defense official said, amid

El Faro Captain Ordered Crew to Abandon Ship before Sinking

The captain of the doomed El Faro cargo ship sounded an alarm for his crew to abandon the vessel shortly before it sank last fall in a hurricane near the Bahamas, killing all 33 onboard, the U.

 
 
Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1025 sec (10 req/sec)