With the 1.2-megawatt storage system known as "Batwind" in operation, it will be possible for the first time to store energy produced from an offshore wind farm, developers Masdar and Equinor touted in a press release Wednesday.
The federal production tax credit (PTC), wind energy’s primary policy tool to promote U.S. wind development, is set to expire at the end of 2012. The PTC has been allowed to expire on multiple occasions in the past, and at those times, wind energy installations have dropped by as much as 93 percent from the previous year, leading to a boom-bust cycle for the wind industry. On Nov. 2, Representative Dave Reichert (R-WA-08) and Representative Earl Blumenauer (D-OR-03) introduced H.R. 3307 to extend the renewable energy production tax credit.
America needs homegrown energy resources to power the nation and with our economy struggling, we’re in dire need of American jobs. Wind energy delivers in both of these areas. The PTC has been instrumental in helping the wind industry to:
• Lower the cost of wind power by more than 90 percent
• Foster economic development in 50 states
• Manufacture components for wind turbines at more than 400 U.S. manufacturing facilities
• Power the equivalent of 10 million American homes
E-mail your representative today and urge them to co-sponsor The American Renewable Energy Production Tax Credit Extension Act of 2011, a bill that will drive the growth of clean, affordable, homegrown American wind power.
For more information, click here.
Editors note: The production tax credit is available for other renewable energy projects, including solar, fuel cells, geothermal systems, and combined heat and power. For a complete list and additional information on incentives for renewable energy, click here.