Two bills introduced in the US Senate would extend the offshore wind Investment Tax Credit, drive infrastructure investment, and create American jobs. AWEA supports two bills that would achieve tax policy parity for offshore wind.
The Offshore Wind Incentives for New Development Act introduced by Senators Markey (D-MA), Whitehouse (D-RI), and Congressman Jim Langevin (RI-02), as well as the Incentivizing Offshore Wind Power Act introduced by Senators Carper (D-DE) and Collins (R-ME) would extend the ITC at 30 percent of the project’s total value for six years and eight years respectively. Promoting investment in offshore wind will strengthen and diversify American energy production. With world-class resource potential off the East Coast, West Coast, and in the Great Lakes, offshore wind is uniquely well-suited to meet consumer demand for large amounts of reliable clean energy near America’s largest population centers.