WHAT GEOTHERMAL, BIOMASS & HYDROPOWER ALL NEED

Hydropower, Geothermal and Biomass Power Executives Call for
Extension of the Production Tax Credit; Industries with significant operations in Southeastern and Western states see risk to thousands of jobs
February 8, 2012 (GEA, NHA, BPA)

"…[E]xecutives from the hydropower, geothermal and biomass power industries called on Congressional leaders to extend the production tax credit through 2016 for hydropower, geothermal and biomass. The three industries operate in parts of the country not often associated with renewable energy – particularly the Southeast and Mountain West – and company and trade association leaders expressed concern for a looming crisis that has put thousands of jobs in these states at risk. The call comes as opponents of renewable energy tax policy place the future of these industries in jeopardy.

"The group called for the immediate passage of H.R. 3307: American Renewable Energy Production Tax Credit Extension Act of 2011, which covers all renewable technologies, and is sponsored by Rep. Dave Reichert [R-WA8] and Rep. Earl Blumenauer [D-OR3] with over 60 bipartisan cosponsors, including 16 Republicans…"

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"The call to action was accompanied by a letter to Congressional leaders…[which stated:]…For most renewable electricity technologies in the United States, the tax incentives put in place over the last decade provided the first significant federal support in decades. By any measure, those policies have been tremendously successful in spurring construction of new projects and the deployment of new technologies, expanding the supply of affordable, clean electricity to the grid, supporting significant local economic opportunities, and creating tens of thousands of U.S. jobs in regions of the country not usually associated with renewable energy…

"…The policies signed into law over the last decade sought to expand federal support and incentives to a wide range of technologies, and to provide longer-term incentives that support industry growth and new technology deployment. And they have been successful in creating momentum for new construction, new capacity and new jobs in America’s renewable energy industry. Those policies and the investments and jobs that they help create need to be kept in place so they can continue to work for America’s economy…"