Advancing the Growth of the U.S. Wind Industry: Federal Incentives, Funding, and Partnership Opportunities Wind Power Is a Burgeoning Power Source in the U.S
Advancing the Growth of the U.S. Wind Industry: Federal Incentives, Funding, and Partnership Opportunities Wind power is a burgeoning power source in the U.S. electricity portfolio, supplying more than 6% of U.S. electricity generation. The U.S. Department of Energy’s (DOE’s) Wind Energy Technologies Office (WETO) focuses on The Block Island Wind Farm, the first U.S. offshore wind farm, enabling industry growth and U.S. competitiveness by represents the launch of an industry that has the potential supporting early-stage research on technologies that to contribute significantly to a reliable, stable, and affordable enhance energy affordability, reliability, and resilience energy mix. Photo by Dennis Schroeder, NREL 41193 and strengthen U.S. energy security, economic growth, and environmental quality. Outlined below are the primary federal incentives for developing and The estimated allowable tax If construction begins… investing in wind power, resources for funding wind credit is… power, and opportunities to partner with DOE and other federal agencies on efforts to move the U.S. After Dec. 31, 2016 1.9 cents/kWh wind industry forward. Before Dec. 31, 2017 Reduced 20% Incentives for Project Developers and Investors To stimulate the deployment of renewable energy technologies, Before Dec. 31, 2018 Reduced 40% including wind energy, the federal government provides incentives for private investment, including tax credits and Before Dec. 31, 2019 Reduced 60% financing mechanisms such as tax-exempt bonds, loan guarantee programs, and low-interest loans. For more detailed information on the phase-down of the PTC set Tax Credits forth in the Bipartisan Budget Act of 2018, see the most current Renewable Electricity Production Tax Credit (PTC)—The Internal Revenue Service guidance.
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