American Council On Renewable Energy (ACORE)
Ph: +1-202-393-0001 x7552
WASHINGTON, February 13, 2008 âEUR" More than 350 leaders in the renewable energy industry ranging
from small business owners, venture capitalists, investors, associations and academics today called
on Congress for the passage of the Investment Tax Credit (ITC) and the Production Tax Credit (PTC)
extensions prior to March 1, 2008.
âEURoeWe are hopeful that the Congress will recognize the message that comes from over 350 leaders in
renewable energy making a single ask: to extend the ITC/PTC this month,âEUR said Michael Eckhart,
President, American Council On Renewable Energy. âEURoeThis is not a partisan issue. It is an economic
ACORE warns that without the immediate passage of the ITC/PTC extensions this month Congress
will jeopardize 42,000 MW1 of planned renewable energy projects currently in development in 45
states âEUR" an amount equivalent to 75 base load electricity generation stations.
Google.org's Director of Climate Change and Energy Initiatives and ACORE co-chair Dan Reicher
stated, "We won't successfully address the climate crisis and our energy security challenges without massively scaling up renewable energy."
Former California Energy Commissioner John Geesman and ACORE co-chair, stated: âEURoeThe time has
come once again for our government to decide what future it will choose. The country has chosen
renewable energy. We ask the President and Congress to come together and support this popular
Credit Suisse Vice Chairman John Cavalier and Nth Power Founder and Managing Director Nancy
Floyd, both ACORE members, agreed: âEURoePolicy stability is the signal we need to send to the markets
both domestically and globally. The financial community supports this request 101%. ItâEUR(TM)s a must do
for the Congress and a must for the President to sign. Billions of dollars in capital flow and tens of
thousands of jobs are at stake here in 2008.âEUR