Wind Industry Tax Credit Set to Expire in December
By: Michaela MacDonald
Updated: October 29, 2012
The wind industry is set to lose its federal tax credit December 31st. Industry experts say the expiration could lead to as many as 37,000 layoffs nationwide.
"It goes beyond the turbines and blades if you will, it goes to the related support industries that are involved in construction, utility grids. It goes really beyond what the eye can see," said Bill Miller, the Executive Director of Reese Technology Center.
Miller says this is an important issue, especially in an election year.
He said, "Whether you are Republican or Democrat it seems to be all about jobs. And if something is producing 20-30% of your energy and direct and indirect employment I feel like a political would be hard pressed to eliminate the credit."
The state of Texas is one of the largest producers of wind power in the country, but it also has major oil and gas industries, unlike other states.
"In Texas where we have all this energy produced by oil and gas, wind is producing more and more energy, but it's a much bigger deal in Iowa than it is in Texas," said Miller.
While wind policy may be on Iowa voters' minds, James Tuttle, owner of South Plains Wind Power says expiration of the tax credit won't affect the way he votes in this election.
Tuttle said, "I think there are way too many factors that are far far bigger than wind energy. I did not put mine up strictly for the economics of it because I realized that the payback was a fairly long period. I did it because I felt that it was important for the environment."
"It goes beyond the turbines and blades if you will, it goes to the related support industries that are involved in construction, utility grids. It goes really beyond what the eye can see," said Bill Miller, the Executive Director of Reese Technology Center.
Miller says this is an important issue, especially in an election year.
He said, "Whether you are Republican or Democrat it seems to be all about jobs. And if something is producing 20-30% of your energy and direct and indirect employment I feel like a political would be hard pressed to eliminate the credit."
The state of Texas is one of the largest producers of wind power in the country, but it also has major oil and gas industries, unlike other states.
"In Texas where we have all this energy produced by oil and gas, wind is producing more and more energy, but it's a much bigger deal in Iowa than it is in Texas," said Miller.
While wind policy may be on Iowa voters' minds, James Tuttle, owner of South Plains Wind Power says expiration of the tax credit won't affect the way he votes in this election.
Tuttle said, "I think there are way too many factors that are far far bigger than wind energy. I did not put mine up strictly for the economics of it because I realized that the payback was a fairly long period. I did it because I felt that it was important for the environment."
