The Beacon

Senate Finance Committee Votes to Extend the ITC for Offshore Wind

The Senate Finance committee gave a strong bipartisan show of support for domestic offshore wind energy yesterday by voting to extend the critical investment tax credit. This vote resurrects a crucial incentive for this nascent clean energy industry and offers a great chance to catapult the industry into the mainstream and allow companies to plan successful projects that take advantage of the nation’s vast offshore wind potential.

The vote also shows that the United States is finally getting serious about transitioning to a clean and domestically produced energy future that mitigates the effects of global climate change and creates thousands of good-paying American jobs in the process. Today’s action adds to the momentum being felt by the offshore wind industry. The federal government is now holding multiple competitive lease sales along the Atlantic Coast, the Cape Wind and Block Island projects are moving forward, and an Oregon floating wind project recently received approval to develop its offshore wind resources.

While this is a great victory, the fight to extend the ITC is far from over. Now is not the time to let up our efforts. Contact your Representatives and Senators and make sure they know how important an extension of the ITC is for the future of offshore wind, and of clean and domestic energy in the United States!

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