Last week, my hometown Atlanta, had the privilege of hosting this year’s Windpower Conference and Exhibition 2012. The conference brings wind professionals together to network, grow their companies, and learn solutions for business challenges in the changing industry. Tens of thousands of wind professionals gathered in Atlanta to discuss the latest developments and learn from experts in the field.
Tuesday’s General Session featured Robert Gibbs, Senior Advisor to President Obama and former White House press secretary, and Karl Rove as keynote speakers. Karl Rove, a high-profile Republican strategist and former Senior Advisor to Bush, shocked many when he stated that extending the production tax credit “should be a priority” for Congress. It is so refreshing to see both sides of the aisle in agreement over this critical legislation!
The production tax credit (PTC) was initially installed in 1992 to offer tax relief to qualified tax-payers who own renewable energy products as incentive to develop and deploy more environmentally friendly energy technologies. The credit is earned based on the output of kilowatt-hours from such technologies and is measured at 2.2 cents per hour of output. However, after 20 years of implementation, the legislation is due for an update before it expires later this year. Karl Rove pointed out the many reasons why wind power is a successful source of renewable energy highlighting that failure to extend the PTC could result in the loss of nearly 37,000 jobs across the country. This extension is imperative towards keeping our environment and our economy healthy.
We are approaching a major election this November, and the discussion on renewable energy has more significance than ever before. Wind power is not only a reliable source of energy, but is also beneficial to our world and economy. We simply cannot afford to lose the jobs and the resources made possible by the production tax credit for renewable energy. It is this pressing influence that makes it increasingly important for you to express your opinion to your local representatives on the need to extend the PTC of renewable energy.