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Tax credits offered as incentive for offshore wind power

8:06 AM, Mar 1, 2013   |    comments
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AUGUSTA, Maine (AP) - U.S. Sen. Susan Collins of Maine is co-sponsoring a bill to boost offshore wind energy generation, which is being aggressively pursued in the state.

Collins, a Republican, joins Democratic Sen. Tom Carper of Delaware in introducing the Incentivizing Offshore Wind Power Act. A House version of the bill is also being introduced.

The proposals provide financial incentives for investment in offshore wind energy. They seek to extend investment tax credits for the first 3,000 megawatts of offshore wind facilities placed into service, or about 600 wind turbines.

The sponsors say the tax credits are vital for wind energy technology because of the longer lead time for the permitting and construction of offshore wind turbines, compared to onshore wind energy.

 

 

 

 

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