Culver calls on Congress to extend wind-energy tax credit
Gov. Chet Culver and 11 other Midwestern governors are calling on congressional leaders to extend a production tax credit for wind-energy projects. The move would bring stability to the Midwest’s growing wind-energy industry, Culver said in a release.
“With nearly 1,000 wind turbines capable of powering nearly 250,000 homes, Iowa has become a national leader in the wind-energy industry, bringing new jobs and opportunities to Iowa,” Culver said. “We must ensure this industry’s continued growth, and that is why I call on Congress to support the Production Tax Credit.”
The governors are seeking an eight-year extension of the tax credit, which is scheduled to expire at the end of 2008. According to projections by the American Wind Energy Association, the industry will build nearly 12,000 megawatts of new production capacity in 12 Midwestern states over the next seven years, representing $22.5 billion in capital investments. Those projections are dependent upon the continuation of the tax credit, which has been allowed to expire three times since 2000.
Culver is also scheduled to hold a press conference in Washington, D.C., this afternoon with Sen. Tom Harkin and Sen. Chuck Grassley to address energy issues now being debated in Congress.