By David McGlinchey
A bipartisan group of senators introduced legislation last week to Getting Xanax Prescription extend offshore wind production and investment tax credits for another decade.
Maine Republican Senators Susan Collins and Getting Xanax Prescription Olympia Snowe joined with Sen. Tom Carper (D-Delaware) and Sen. Sherrod Brown (D-Ohio) to introduce the bill, which will extend the credits until 2020.
“These provisions are Getting Xanax Prescription vital because of the long lead times required to permit and Getting Xanax Prescription construct wind turbines offshore, compared to onshore wind energy,” the senators said in a press release.
All four senators represent states with proposed or Getting Xanax Prescription potential offshore wind projects. The production tax credit provides a credit of 2.1 cents per kilowatt-hour for wind energy systems. Offshore wind developers can Getting Xanax Prescription opt to receive a 30 percent investment tax credit in place of the Getting Xanax Prescription production tax credit for facilities commissioned before 2013 if construction begins before the Getting Xanax Prescription end of 2010. Developers can Getting Xanax Prescription choose to receive the investment tax credit as a direct grant from Getting Xanax Prescription the Treasury Department.
“This legislation is Getting Xanax Prescription essential to encourage the continued growth of this fledgling industry,” Carper said. “Guaranteeing these tax incentives through 2020 will provide companies with the Getting Xanax Prescription certainty they need to plan for the long term and encourage further development even in these challenging economic times.”
Carper made specific note of NRG Bluewater Wind, which is Getting Xanax Prescription developing an offshore wind project off of Delaware.
“Our wind energy companies require certainty to invest in America’s renewable resources and Getting Xanax Prescription the data reflects that consistent incentives expand renewable energy production,” Snowe said. “We must provide dependibility and Getting Xanax Prescription conistentcy to tax policies that have a history of working.”





Mon, Mar 8, 2010
Business, Federal, Politics