24 Oct '12, 1pm

wind

Two dozen investors with more than $800 billion in assets under management today called for an immediate extension of the Production Tax Credit (PTC) for renewable power. In a letter delivered to Congressional leaders , investors noted that this critical tax credit creates broad economic benefits, both for wind power producers and their suppliers across the nation. Several of these investors will meet with Congressional staff tomorrow to discuss their support for the credit. First passed by President George H. W. Bush in 1992, the PTC provides a tax credit of 2.2 cents for each kilowatt-hour of renewable power generated. The credit is designed to stimulate investment in renewable energy and has specifically helped the wind power industry to build up a large domestic network of suppliers. According to the American Wind Energy Association, the PTC has spurred $20 billion in ...

Full article: http://www.ceres.org/press/press-releases/investors-ask-c...

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