Revised energy bill signed by President Bush leaves out PTC
The 2007 energy bill increases vehicle fuel economy standards but does not include a wind energy production tax credit (PTC).
President Bush signed an Energy Bill on December 19 that will increase fuel economy standards and improve some energy efficiency programs. The bill also includes measures to increase biofuel production and geothermal development but leaves out tax incentives and a national renewable energy quota.
The American Wind Energy Association (AWEA) issued the following statement by AWEA Senior Director of Governmental & Public Affairs Gregory Wetstone:
“The passage of energy legislation substantially improving automobile fuel efficiency is an important step forward. However, as Congressional leaders have pointed out in recent days, critical work remains undone. An effective energy policy for the 21st Century must include a strong commitment to renewable energy sources like wind and solar power. Promotion of clean, domestic renewable energy through tax incentives and a national renewable electricity standard is crucial to our economy, our national security and the protection of our planet's climate. We look forward to working with Congress and the President in the New Year to move these vital policies forward.â€
See press release, http://www.renewableenergyaccess.com/rea/news/story?id=50915