Distributed wind community remains optimistic as wind Investment Tax Credit (ITC) is adopted in Senate Tax Extenders
Grassley/Cantwell Amendment adds 2-year extension of ITC to Senate Tax Extenders
Washington, D.C., April 3rd – Further Congressional action was taken today to address many of the tax extenders that expired earlier this year, a 2 year extension of ITC for distributed wind was added to the Senate Finance Committee's package of tax extenders during today's mark-up. Senators Grassley, Cantwell, Brown, Bennet, Cardin, Carper, Menendez, Nelson, and Stabenow offered the amendment that was accepted to include the ITC (along with the PTC for utility scaled wind power) in the bill.
"I am pleased with today's decision to include the ITC in the broader package to address expired tax extenders," said Jennifer Jenkins, Executive Director of the Distributed Wind Energy Association (DWEA). "A renewed ITC will provide business certainty to the community and distributed wind segments of the wind industry that are generally unable to utilize the PTC and enable them to continue to drive economic development across farms, schools, business, and communities across the country often a multiplier of economic impact to the local community."
Distributed wind projects are present in all 50 states, providing clean, homegrown, affordable power and economic development across the United States. These systems are commonly, but not always, installed on residential, agricultural, commercial, industrial, and community sites and can range in size from a few-hundred-watt, off-grid turbine at a remote cabin or a 5-kW turbine at a home to a multi-MW turbine at a manufacturing facility
"I applaud Members of Congress including of course the amendment sponsors, and Chairman Wyden, who continue to see the ITC for what it is, an example of an effective, job-creating tax policy," Jennifer continued. "Allowing it to expire has put American jobs at risk. Today's vote represents a step in the right direction and I look forward to continuing down this path."