AGRIBUSINESS: Senator Discusses Wind Energy Tax Credits
Senator Chuck Grassley talked wind energy tax credits on the floor of the U.S. Senate Tuesday. The tax credit was established in 1992 and Grassley, a long-time supporter of wind energy, says he had no idea at that time the enormous success the tax credit would become.
The Senator noted that those who want to do away with the wind energy tax incentive don’t seem to mention that other forms of energy have received far more generous tax incentives for many decades longer than the wind energy industry has.
Nationally, the wind energy industry supports 75,000 jobs. There are more than 400 manufacturing facilities nationwide supplying wind components. 35-percent of all new electricity generation added during the last five year was wind, more than coal and nuclear combined. Today, 60-percent of a wind turbine’s value is produced in the United States, compared with just 25 percent in 2005.