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newsroom
AWEA SAYS MANUFACTURING TAX CREDIT WILL CREATE JOBS, BOOST WIND POWER The American Wind Energy Association (AWEA) today welcomed the release of details for the renewable energy manufacturing tax credit, which was enacted earlier this year as part of the American Recovery and Reinvestment Act (ARRA). The legislation allows a tax credit of 30% for investment in new renewable energy manufacturing facilities, as well as retooled or expanded facilities. "Wind power is a bright source of manufacturing jobs in the U.S. today. With this incentive and with the right policies in place, it can become an even much larger source of jobs tomorrow," said AWEA CEO Denise Bode. Bode noted that the share of domestically manufactured wind turbine components has risen to 50% in the wind turbines installed in the U.S. in 2008, up from less than 30% in 2005. "The domestic share can increase further with the stimulus funding now beginning to flow, coupled with a strong, long-term policy commitment--if Congress passes a strong RES." In 2008 alone, 55 wind energy manufacturing facilities were announced, opened or expanded. While the current economic conditions have dampened demand, the tax credits are expected to boost the opening of new facilities. Further information about the tax credits and how to apply for them can be found at the Energy Department’s website. Applications are now being accepted.
# # # AWEA is the national trade association of America’s wind industry, with more than 2,000 member companies, including global leaders in wind power and energy development, wind turbine manufacturing, component and service suppliers, and the world’s largest wind power trade show. AWEA is the voice of wind energy in the U.S., promoting renewable energy to power a cleaner, stronger America. Look up information on wind energy at the AWEA Web site. Find insight on industry issues at AWEA’s blog Into the Wind. Join AWEA on Facebook. Follow AWEA on Twitter. |
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