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CEO cites wind power's benefits in urging PTC extension

CEO cites wind power's benefits in urging PTC extension

Michael Rucker, the CEO of Juwi Wind Energy USA, focuses on the benefits of wind power in a recent op-ed in the Cleveland Plain Dealer that calls extending the federal wind energy Production Tax Credit (PTC) “a smart idea.”

Notes Mr. Rucker, “Jobs is one of [the benefits]. A four-year extension of the tax credit is expected to create another 25,000 jobs by 2016. Without the tax credit, we'll lose jobs.

“Cheaper energy is another benefit. Wind-power prices have dropped 90 percent in the past 30 years, making wind the least expensive form of electricity in some parts of the country. Prices are expected to fall further if we don't stall the industry's growth. Moreover, the fact that wind power's fuel comes for free insulates consumers against significant rate hikes. Anyone paying almost $4 a gallon these days because we're limited to one choice in automobile fuel — gasoline — can appreciate that.

“Emissions-free wind power also makes our air cleaner, helping prevent asthma, heart attacks and respiratory problems. Local economies benefit from royalties paid to property owners who host turbines, and millions in tax dollars that go to schools and other vital services.”

The PTC and Ohio's renewable energy standard, Rucker adds, have made the Buckeye State a popular place for the wind power industry to do business, with 100 companies in the industry's supply chain employing an estimated 7,500 workers.  Unfortunately, he continues, recent efforts in Columbus to weaken the renewable energy standard are forcing Juwi to look more seriously at doing business elsewhere, and Congress's delay in extending the PTC is causing uncertainty that hampers the industry nationwide: “[L]et's support smart public policies such as the production tax credit and the state's renewable energy standard–good ideas that are already working for all of us.”

The PTC provides an income tax credit of 2.2 cents per kilowatt-hour for the first 10 years of electricity production from utility-scale turbines. It is set to expire on Dec. 31 unless Congress extends it first. A recent study by Navigant Consulting found that extending the Production Tax Credit will allow the industry to grow to 100,000 jobs in just four years, while an expiration would kill 37,000 jobs within a year.

A House bill seeking to extend the PTC has 97 cosponsors, including 22 Republicans, while a Senate bill to extend it was introduced March 15 by seven Senators, including three Republicans.  PTC extension efforts have received the endorsement of a broad coalition of more than 370 members, including the National Association of Manufacturers, the American Farm Bureau Federation, the Edison Electric Institute, and the Western Governors’ Association. A PTC extension also has the support of the U.S. Chamber of Commerce, the National Governors Association, and the bipartisan Governors’ Wind Energy Coalition, which includes 23 Republican and Democratic Governors from across the U.S.  A PTC extension has been endorsed by a number of newspapers across the country, including the Houston Chronicle, The New York Times, the Denver Post, the Daily Oklahoman, and the Toledo Blade.

Further endorsements of the wind energy production tax credit.

Related articles:

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Support tax credit to help Ohio wind industry, May 16, 2012
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Iowa newspaper endorses wind PTC extension, May 14, 2012
Toledo Blade becomes latest newspaper to endorse PTC extension, May 11, 2012
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N.Y. port sees action due to wind power, PTC, May 9, 2012
Tax payments to S.D. counties illustrate impact of wind tax credit, May 8, 2012
PTC extension part of 'all of above' policy, says sponsor Reichert, May 7, 2012
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Sen. Bennet: Congress 'not doing job' on PTC extension, May 3, 2012
Veterans training co. officer: PTC extension good for vets, economy, May 2, 2012
NW policy group: PTC helps lead to clean energy future, April 30, 2012
Congressman Thompson, veterans, industry experts call for PTC extension, April 27, 2012
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From Nevada, Michigan, Montana: Calls for PTC extension
, April 10, 2012

Sierra Club, BP agree: Extend the PTC, April 9, 2012
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, April 6, 2012
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, April 5, 2012
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, April 4, 2012
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, April 3, 2012
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, March 29, 2012
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, March 28, 2012
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, March 26, 2012
Former Congressman Boucher sees PTC extension likely
, March 26, 2012
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, March 20, 2012
In op-ed, Kansas Governor, Senator call for PTC extension
, March 19, 2012
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Houston Chronicle editorial supports PTC extension
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, March 14, 2012
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, March 8, 2012
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, March 5, 2012
Salazar, citing 'race we cannot cede', backs extending PTC
, March 1, 2012
Kerry, Brown win praise for bipartisan support of PTC extension
, February 29, 2012
Wichita Eagle editorial blog endorses PTC extension
, February 28, 2012
Daily Oklahoman: PTC extension “makes sense,”
February 27, 2012
Bipartisan group of Illinois Representatives supports PTC extension
, February 24, 2012
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, February 23, 2012
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U.S. Rep. Steve King (R-IA): PTC is jobs engine conservatives should support
, February 17, 2012
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, February 16, 2012
Major U.S. consumer brands like Nike on extending the PTC: Just Do It!
, February 15, 2012
Oklahoma Gov. Fallin urges conferees: Extend the PTC
, February 15, 2012
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, February 13, 2012
Bipartisan letter from entire Iowa Congressional delegation urges: Extend the PTC
, February 10, 2012
Senate Energy Chairman Bingaman: Act now to save clean-energy jobs
, February 9, 2012
Bipartisan letter from Colorado Congressional delegation urges: Extend the PTC
, February 8, 2012
Republican governors push for PTC extension; Senators express support
, February 2, 2012
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, February 1, 2012
WindTV: Wind power drives commerce in small-town America
, January 24, 2012
Denver Post endorses PTC extension 'sooner rather than later'
, January 18, 2012
WSJ op-ed: 'Want Growth? Try Stable Tax Policy'
, January 5, 2012
Red State Energy, Red State Jobs
, November 29, 2011

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