Something you can do for your country, and your progeny…
By Tomorrow, Congress will decide if they intend to extend or let expire (at the end of 2008) the clean air tax credits (AKA Production Tax Credit or PTC). The PTC is a per-kilowatt-hour tax credit for electricity generated by qualified energy resources. It gets adjusted for inflation, but it is in the area of 2 cents per kWh (currently 2.1). The credit can be taken for the first 10 years of production, so, in essence, it is a financial boost to get renewable energy facilities up and running, but not a indefinite tax benefit. This is a bi-partisan bill that made it easily through the Senate with support from both sides of the isle.
Since the process of extending the PTC began it has been allowed to expire three times. Each time with a significant reduction in new installations (for wind alone: 2000 - 93% drop in installation; 2002 - 73%; 2004 - 77%; estimates for 2009 if the PTC is not extended are in the area of 90%).
What does this mean, financially? The raw numbers (as calculated by Navagant Consulting in February of this year) are 116,000 jobs and $19 Billion in clean energy investment between wind and solar for the year 2009. Of course, just like the interest in your savings account, these numbers grow exponentially over the years due to the lost year (or more) of “principle investment.”
Our country is currently overly dependent on foreign energy supplies. This one of the major issues of our current presidential elections, and an ugly shadow that looms over our society as a whole. We have fought wars over oil and, so long as our dependency is in place, will have commitments to foreign nations that handcuff our ability to conduct business and form foreign policy freely and without restriction.
Our world is currently feeling the effects of global warming. Regardless of whether you think it is a mostly man made phenomenon or is a natural cycle that we are only magnifying with our green house gas emissions; there is no dispute over the fact that our current energy practices are having a measurable effect on the environment.
Renewable energy sources like wind and solar can dramatically reduce both foreign energy dependence and green house gas emissions. Both are completely renewable, and freely available within our own borders. The new wind installations in 2007 alone (which, by the way, represented 35% of the nations new electrical capacity for that year) provide enough energy to power the equivalent of 1.5 millions U.S. homes.
This is a growing, thriving industry, with the potential to not only power our homes, but prevent us from continuing to be beholden to nations who do not share our beliefs and ideologies while simultaneously helping to ensure a stable environmental future for our children and grand-children.
Its hard to imagine the downside to extending the PTC, however, the numbers are very clear about the dangers of allowing it to expire; increased unemployment rates, and an economy further dragged down by stunted investment.
So what can you do? You can write your Legislators and tell them how important the PTC extension is to you and your country. It will only take a minute, because you can go to this site (http://capwiz.com/windenergy/home) Enter your zip code and send a letter to all of your federal elected officials at once. Even better, I have acquired a sample letter (below). You can copy and paste it into the box, use portions of it in a letter of your own creation, or, of course, ignore it and simply do your own thing.
Whatever avenue you choose, however, please write them today. The time to act is now, tomorrow will, literally, be too late.
Sample letter:
Dear Congressperson,
I am writing to urge your affirmative vote in the passage of H.R. 6049, The Renewable Energy and Job Creation Act of 2008. This bi-partisan bill allows for the continued growth of renewable energy in the U.S. and clears a path for a cleaner, energy independent future. The Senate overwhelmingly passed this resolution and now it’s up to the House to relay the message to renewable energy industries and the world that we want clean energy, green jobs and thriving rural economies.
Without the extension of the Production Tax Credit for renewable energy, development and construction will come to a halt. This not only hurts industry, but it also increases our dependence on greenhouse gas emitting energy sources and foreign fuel. As our appetite for energy grows, so must our dedication to clean, secure energy sources.
In addition, the renewable energy industry benefits the American economy by creating jobs in manufacturing, construction and engineering. Local taxes invigorate rural economies already struggling to stay afloat. Farmers and ranchers receive royalty payments on their land, while still engaging in their livelihoods. In these tumultuous times, renewable energy is a constant; energy does not fluctuate in cost due to volatile fuel prices.
Please, take the time to speak with your fellow Representatives in support of H.R. 6049. The people want renewable energy, and this is your chance to see that we receive it.
Sincerely,
