As reported recently by The Hill, Environmental Protection Agency Administrator Scott Pruitt thinks the solar investment tax credit and wind production tax credit should be eliminated.
Speaking at an event in Kentucky, Pruitt said “I would do away with these incentives that we give to wind and solar…I’d let them stand on their own and compete against coal and natural gas and other sources, and let utilities make real-time market decisions on those types of things as opposed to being propped up by tax incentives and other types of credits that occur, both in the federal level and state level."
In a follow-up response letter published in the Oct. 17 print edition of the The Hill, I offered the following response on behalf of the renewables industry:
November 12 -- GCube, the leading provider of underwriting services for renewable energy projects, has launched an insurance solution to cover losses incurred by wind energy developers or contractors in the event of the cancellation of the Production Tax Credit (PTC). A key Presidential election issue, the potential non-renewal of the PTC for wind energy projects has caused the US wind energy industry to see a substantial slowdown in equipment orders and new projects slated for 2013. With investors increasingly nervous, project capital for new developments has become progressively harder to secure. GCube’s latest offering is designed to bolster market confidence for the remaining projects currently under development. >>View Article
September 12 -- Juhl Wind, Inc. (OTCBB: JUHL), the Leader in Community Wind Power is pleased to announce today that they are partnering with the Minnesota Vikings professional football team to provide renewable energy credits ("RECs"), generated by one of their operating wind energy facilities, to offset the electricity used at Mall of America Field at the Hubert H. Humphrey Metrodome for all Vikings' home games during the 2012-2013 season. >>View Article
August 21 -- 3TIER®, a global leader in renewable energy risk analysis, today announced that it was selected through a competitive solicitation process by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to update the U.S. wind integration dataset. >>View Article
August 23 -- Recent campaign stops by Mitt Romney and President Obama could not provide a more stark contrast of energy policies. Romney promises coal miners that he’s in favor of energy from “below the ground”, albeit preferring domestic sources of all fossil fuels. >>View Article
August 27 -- By the time students return to Cape Cod Community College in September, they could be working under lights powered by the sun. A large solar farm, several smaller photovoltaic arrays and an innovative wind energy project installed over the past five months on the college's West Barnstable campus are expected to save more than $100,000 a year in electricity costs, according to college officials. >>View Article