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The wind energy industry is now facing a critical challenge. The renewable energy Production Tax Credit (PTC) currently provides an incentive of two cents per kilowatt hour to wind farms, enabling wind energy to be cost-competitive with other electricity sources. However, this incentive is set to expire on December 31, 2008. Without the extension of this tax credit, America risks the loss of 116,000 jobs and $19 billion in clean energy investment.

The PTC has been allowed to expire three times in the past. Each time, the amount of new wind generation installed the next year dropped by 73-93%. This means that tens of thousands of Americans in high-wage manufacturing and construction jobs are laid off, billions of dollars are not put into clean energy investments, and America does not pull its weight in the fight against global warming. To keep the wind industry growing at a rapid pace (29% annual average for the past five years) the federal government must to establish a stable policy environment for renewable energy, beginning with an immediate extension of the PTC.

The Senate voted overwhelmingly in favor of the Clean Energy Tax Stimulus Act on April 10, 2008, which provides for a one-year extension of the renewable energy Production Tax Credit (PTC). This is a huge victory for the wind energy industry! However, we still need your support to make this bill become a law. The House of Representatives will also need to approve an extension of the PTC. Please tell your Representatives about the urgency of a PTC extension. Contact your Representatives today.

Also, click here to sign our petition in support of renewable energy tax credits!