Washington, D.C. —
Senator John Thune today cosponsored the bipartisan Clean Energy Tax Stimulus Act of 2008, which would extend the renewable energy production tax credit for one year.
"Wind energy generated in South Dakota has the potential to be a part of our nation's long-term energy strategy," said Thune. "South Dakota's wind producers need this tax credit now to plan for future investments in critical infrastructure. I urge the Senate to act quickly on this bipartisan plan to expand clean, renewable energy.
"Wind energy production is a developing industry, and tax incentives are necessary to spur growth and create jobs. The production tax credit will allow South Dakota wind energy producers to translate one of our state's most abundant resources into jobs and increased energy security."
Currently, the existing production tax credit incentive of 2 cents per kilowatt hour is scheduled to expire at the end of 2008. Senator Thune and other wind energy leaders in the Senate are working to extend the production tax credit so that wind energy developers have certainty when it comes to future projects both in South Dakota and across the country.
Michael C. Robinson, Deputy Director of the National Renewable Energy Laboratory (NREL) in Golden, Colorado, has said South Dakota is capable of producing 566 GW of electrical power from wind, which is the equivalent of 52% of the nation's electricity demand. NREL's estimates indicate that the wind energy potential in South Dakota is twice as large as states such as Montana, Minnesota, and Wyoming.
"Wind energy generated in South Dakota has the potential to be a part of our nation's long-term energy strategy," said Thune. "South Dakota's wind producers need this tax credit now to plan for future investments in critical infrastructure. I urge the Senate to act quickly on this bipartisan plan to expand clean, renewable energy.
"Wind energy production is a developing industry, and tax incentives are necessary to spur growth and create jobs. The production tax credit will allow South Dakota wind energy producers to translate one of our state's most abundant resources into jobs and increased energy security."
Currently, the existing production tax credit incentive of 2 cents per kilowatt hour is scheduled to expire at the end of 2008. Senator Thune and other wind energy leaders in the Senate are working to extend the production tax credit so that wind energy developers have certainty when it comes to future projects both in South Dakota and across the country.
Michael C. Robinson, Deputy Director of the National Renewable Energy Laboratory (NREL) in Golden, Colorado, has said South Dakota is capable of producing 566 GW of electrical power from wind, which is the equivalent of 52% of the nation's electricity demand. NREL's estimates indicate that the wind energy potential in South Dakota is twice as large as states such as Montana, Minnesota, and Wyoming.