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.

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Oil Exports Could Push US Gasoline Prices Lower

The price of U.S. gasoline could fall if Washington were to allow crude oil exports, an independent government report on Tuesday concluded, adding political firepower

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

Liam Means Business for Shipping Cluster

Enterprising student Liam Finch has been putting his summer days to good use by working on an important survey for the Isle of Man Shipping Association (IOMSA).

Offshore

Latest ShipConstructor Update Targets Offshore

With the release of ShipConstructor 2016 R1.1, SSI said it provides additional enhancement for the offshore rig construction market, particularly with regards to weld management.

MODEC FPSO Achieves First off Brazil

MODEC, Inc. announced today that its FPSO Cidade de Itaguai MV26, operating in the Iracema Norte area of Lula field, in the Pre-Salt layer of Santos Basin offshore Brazil,

AFBO to Provide Security in Arctic Waters

State of the Arctic Council to establish a new mechanism to strengthen operational cooperation and coordination of activities at sea. This is dictated by the

Energy

Nigeria Ramps up Push to Eradicate Oil Theft

Nigerian authorities hope to put an end to rampant oil theft in eight months by increasing drone and naval monitoring of territorial waters and working with local communities,

MN: Corvus Energy

The Company: Corvus is a manufacturer of proven, high power Energy Storage Systems (ESS). Its field proven battery systems provide power to hybrid and fully electric marine propulsion systems.

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Government Update

Huntington Ingalls Cites Interest in Building US Icebreakers

Huntington Ingalls Industries Inc, which builds aircraft carriers and U.S. Navy warships, on Tuesday said it was keen to bid to build new icebreakers for the U.

Oil Exports Could Push US Gasoline Prices Lower

The price of U.S. gasoline could fall if Washington were to allow crude oil exports, an independent government report on Tuesday concluded, adding political firepower

Migrant Crisis Promts Call to IMRF for Help

Mediterranean Rescue Services are in urgent need of support because they are struggling to keep up with the replacement of equipment being used to rescue the increasing

Wind Power

Hurricane Ignacio Gains Strength but Expected to Bypass Hawaii

Hurricane Ignacio intensified as it blew across the Pacific on a route likely to bypass Hawaii on Saturday, said the Central Pacific Hurricane Center of the National Weather Service.

MHI, SBG Invest in Wind Energy Startup Altaeros Energies

Mitsubishi Heavy Industries, Ltd. ("MHI") and the Suhail Bahwan Group ("SBG") have invested in Altaeros Energies, a Massachusetts-based technology company, to

What Have We Learned From Hurricane Katrina?

To mark the 10th anniversary of Hurricane Katrina, specialist insurer Allianz Global Corporate & Specialty (AGCS) has released a report analyzing windstorm risks

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.3410 sec (3 req/sec)