Production Tax Credit for Wind Energy in the U. S.

Oct 24th, 2012 | By | Category: Featured Story

Henry Auer gives a presentation to a local organization. (cjzurcher)

One way of reducing the rate of emission of carbon dioxide is to generate electric power from renewable sources, including wind energy. In the U. S. renewable energy has been aided by a production tax credit since 1992, that, in fits and starts, Congress has repeatedly granted and taken away. It is scheduled to expire on Dec. 31, 2012. In contrast, subsidies for conventional fossil fuel energy sources have been steadily subsidized since the early 1900’s.

Renewable energy, including wind energy, benefits the U. S. by relieving dependence on foreign energy sources, expanding economic activity, and lowering the annual rate of emission of carbon dioxide, the most prevalent greenhouse gas. For these reasons the production tax credit should be renewed for an extended duration, in order to convey stability and predictability to the renewable energy industry.

Introduction

The United States burns large amounts of fossil fuels in order to drive its economy, resulting in correspondingly large annual rates of emission of greenhouse gases such as carbon dioxide, CO2. CO2 accumulates in the atmosphere because more is emitted than can be absorbed around the planet. As a result long-term average global temperatures have been rising inexorably. Increased temperatures are held responsible

for extreme weather events around the world, which lead to significant harms to our economic and societal wellbeing.

For more on this story, visit: Global Warming Blog by Henry Auer: Production Tax Credit for Wind Energy in the U. S..

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