“We applaud Secretaries Chu and Salazar for their efforts to accelerate the nation’s offshore wind industry. Deepwater Wind has long advocated for consistent federal policies on offshore wind development, so we’re particularly gratified by the steps the Obama administration is taking to establish a coordinated strategy.
“But it’s also critical to the nation’s clean-energy future that Congress and the White House focus this year on renewing important federal tax incentives, such as the Investment Tax Credit, that are scheduled to expire. In an industry where projects take a number of years to develop and build, renewing tax incentives for only a year or two at a time undermines the private sector investment needed to build these projects. Long-term stability in federal policies — including tax policy — is essential to development of the offshore wind industry.”
[mappress]
Source: dwwind , February 08, 2011