Wind Energy Industry Statement on Tax Credits in Senate Stimulus Package

WASHINGTON, DC - January 30, 2008: The American Wind Energy Association (AWEA) today issued the following statement by AWEA Executive Director Randall Swisher:

"The American Wind Energy Association, on behalf of our more than 1200 member companies, commends the Senate Finance Committee for including an extension of the expiring tax credits for wind, solar, and other renewable energy technologies as part of its economic stimulus package. We are especially grateful to Senators Maria Cantwell (D-WA) and Charles Grassley (R-IA) for their determined, bipartisan leadership in promoting this crucial step forward for America's workers, our economy and our environment.

The extension of the production tax credit (PTC) is urgently needed to protect tens of thousands of U.S. manufacturing and construction jobs and create tens of thousands more, and to keep investment flowing into one of the fastest-growing and brightest sectors of our economy: renewable electricity. Failure to extend the expiring renewable electricity credits would put 75,000 U.S. jobs at risk solely as a result of the decline in wind energy investment. Tens of thousands of additional jobs will be threatened because of similar slowdowns in the solar, geothermal and other renewable electricity industries.

Renewable energy is one of the bright spots in the U.S. economy today. The U.S. wind industry expanded by 45% in 2007 and contributed about 30% of the entire new power generating capacity added in the country last year. Last year, investors channeled more than $20 billion to renewable electricity in the U.S. But Congress's delay in extending the renewable electricity credits, which expire at the end of this year, is now causing investors to hold back on decisions regarding wind and solar power projects that will not come on line until next year.

We urge the full U.S. Senate to move quickly to adopt the Finance Committee stimulus package that includes the PTC extension. Rapid action is pivotal if wind, solar and other renewable energy industries are to continue to grow, attract large-scale manufacturing investment and create jobs for Americans across the country.

AWEA, formed in 1974, is the national trade association of the U.S. wind energy industry. The association's membership includes turbine manufacturers, wind project developers, utilities, academicians, and interested individuals. More information on wind energy is available at the AWEA web site: www.awea.org