News Release from American Clean Power Association (ACP)
Wind Industry Profile of
08/18/2009
USA - AWEA says manufacturing tax credit will create jobs, boost wind power
The American Wind Energy Association (AWEA) today welcomed the release of details for the renewable energy manufacturing tax credit, which was enacted earlier this year as part of the American Recovery and Reinvestment Act (ARRA).
The legislation allows a tax credit of 30% for investment in new renewable energy manufacturing facilities, as well as retooled or expanded facilities.
"Wind power is a bright source of manufacturing jobs in the U.S. today. With this incentive and with the right policies in place, it can become an even much larger source of jobs tomorrow," said AWEA CEO Denise Bode.
Bode noted that the share of domestically manufactured wind turbine components has risen to 50% in the wind turbines installed in the U.S. in 2008, up from less than 30% in 2005. "The domestic share can increase further with the stimulus funding now beginning to flow, coupled with a strong, long-term policy commitment--if Congress passes a strong RES."
In 2008 alone, 55 wind energy manufacturing facilities were announced, opened or expanded. While the current economic conditions have dampened demand, the tax credits are expected to boost the opening of new facilities.
Further information about the tax credits and how to apply for them can be found at the Energy Department’s website. Applications are now being accepted.
The legislation allows a tax credit of 30% for investment in new renewable energy manufacturing facilities, as well as retooled or expanded facilities.
"Wind power is a bright source of manufacturing jobs in the U.S. today. With this incentive and with the right policies in place, it can become an even much larger source of jobs tomorrow," said AWEA CEO Denise Bode.
Bode noted that the share of domestically manufactured wind turbine components has risen to 50% in the wind turbines installed in the U.S. in 2008, up from less than 30% in 2005. "The domestic share can increase further with the stimulus funding now beginning to flow, coupled with a strong, long-term policy commitment--if Congress passes a strong RES."
In 2008 alone, 55 wind energy manufacturing facilities were announced, opened or expanded. While the current economic conditions have dampened demand, the tax credits are expected to boost the opening of new facilities.
Further information about the tax credits and how to apply for them can be found at the Energy Department’s website. Applications are now being accepted.
- Source:
- American Wind Energy Association
- Author:
- Edited by Trevor Sievert, Online Editorial Journalist / Author: AWEA Staff
- Email:
- info@awea.org
- Link:
- www.awea.org/...
- Keywords:
- wind energy, renewable energy, jobs, wind turbine, wind power, wind farm, rotorblade, onshore, offshore
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