WH Pushes Tax Credit Benefiting Overseas Firm


Energy Secretary Steven Chu wants to extend a wind production tax credit that will benefit firms like Ingeteam, a Spain-based energy conglomerate. Chu spoke at Ingeteam’s factory in the Menomonee Valley, Wisconsin last Thursday. The Milwaukee Journal Sentinel reports:

The wind production tax credit won't be permanent, as even the American Wind Energy Association has come out in support of a credit that will phase out over time as the cost of producing electricity from wind turbines becomes more and more competitive, Chu said.

The wind energy investment tax credits have been opposed by congressional Republicans who don't consider it a wise use of federal tax dollars to help support wind generation, which is more expensive per unit of energy to produce than traditional electricity generation sources like coal and natural gas.

Chu said continuing the tax credit – set to expire at the end of this year – was important to help send a signal that the U.S. supports clean energy and the manufacturing jobs linked with it.