NFU: Renewable Energy Incentives Vital to Rural America

In a letter to Sens. Maria Cantwell, D-Wash., and John Ensign, R-Nev., who introduced the legislation today, Buis said rural America could supply significant percentages of our country’s energy needs within the next two decades and applauded the Senators for their committment to extend the renewable energy production tax credit (PTC). The PTC is set to expire December 31, 2008.

“History has taught us that allowing the PTC to expire will halt critical investment in renewable energy projects. As a result, jobs will be lost and the industry’s growth will be stalled,” Buis said. “Your efforts to secure a one year extension will help ensure continued expansion of the industry as we find ways to more permanently foster renewable energy development.”

Buis urged the Senators to support federal efforts that would do more to develop locally owned renewable energy projects. Citing a National Renewable Energy Laboratory (NREL) study comparing the benefits of locally owned wind projects versus outside ownership, Buis said, “Locally-owned projects generate 2.6 times more jobs and 3.1 times more rural economic benefit than those with outside ownership.”

Also today, NFU joined a broad coalition of diverse groups in a letter to members of the U.S. Senate acknowledging the importance, and urging their support, of extending renewable energy tax credits.

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