Energy chief Chu calls for PTC extension in Colorado
U.S. Energy Secretary Steven Chu, in Denver for the World Renewable Energy Forum, called on Congress to extend tax credits that bolster the nation’s alternative energy industry.
“America can’t afford to miss out on the clean energy opportunity,” Chu said in prepared remarks at the forum, taking place this week at the Colorado Convention Center.
President Barack Obama is pressing Congress to extend the Production Tax Credit, which saves wind farms $22 for every megawatt generated during the farm’s first 10 years of existence and is set to expire at the end of the year.
Obama also wants to expand a 30 percent tax credit for investments in clean energy manufacturing known as the 48C Advanced Energy Manufacturing Tax Credit.
Those credits, Chu said, “are supporting companies and workers here in Colorado and across the country.”
He added: “Colorado is helping to lead the way in clean energy. The state is among the leaders in installed solar capacity. It has had a renewable portfolio standard in place for many years. And it’s a hub for clean energy manufacturers from GE to Vestas.”
Vestas Wind Systems, which bases its North American operations in Portland and employs some 1,600 workers at its wind-turbine plants in Colorado, has said it may lay off at least some of its employees here based on whether it expects Congress will renew the Production Tax Credit.
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