Industry Leaders: Obama, Congress Should Make Tax Incentives Refundable
The American Wind Energy Association (AWEA) and the Solar Energy Industries Association (SEIA) today reported that both wind and solar energy enjoyed record-breaking years in 2008, but face a dramatic reduction in 2009 if Congress and the incoming Administration do not take swift action to help make renewable tax incentives work in today’s difficult economy.
AWEA CEO Denise Bode and SEIA President and CEO Rhone Resch both cited the need to make the ITC and PTC refundable to preserve their effectiveness in the current economic climate and maintain the very strong growth of both industries.
“We applaud President-elect Obama’s aggressive goal of doubling the production of alternative energy in the next three years. Wind energy is ready to do its part, but we face a major obstacle in this economic downturn,” Bode said. “We can continue to grow through this difficult period only if the new Administration and the 111th Congress act immediately to make renewable tax incentives refundable so they can work as they are intended to – even in the current financial context. This is a critical first step to building the new, clean energy economy.”
See full Press Release.
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