President Obama, Congress Save Wind Power in Fiscal Cliff Agreement

Environment Rhode Island

Providence – Today President Obama will sign into law a bill that extends key tax credits for wind power and averts the ‘fiscal cliff’. The main federal incentives for wind power – the renewable energy Production Tax Credit (PTC) and the offshore wind Investment Tax Credit (ITC) – expired on December 31, 2012, but with today’s new law will now be available for wind power projects that start construction over the next year, allowing for continued growth of American wind power, including projects in Rhode Island.

Environment Rhode Island’s Channing Jones released the following statement:

“President Obama and clean energy champions including Rhode Island’s senators and representatives helped make this a happy holiday for our health and our environment by extending critical tax credits for wind energy.

“Wind power is already replacing the dirty and dangerous energy sources of the past and creating a cleaner, healthier future for Rhode Island. Our state has considerable potential, onshore and especially offshore, to get more of our power from wind and create a cleaner future for Rhode Island.

“We applaud our leaders for recognizing these tremendous benefits to our health and environment, and for acting to ensure the continued development of pollution-free wind energy.”

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Environment Rhode Island is a statewide, citizen-based environmental advocacy group.