Today Clean Energy States Alliance submitted a non-partisan letter to key Congressional committee leaders in support of the Production Tax Credit (PTC) and Investment Tax Credit (ITC), federal policies that are crucial for sustained clean energy development. CESA's Board of Directors approved the letter in October.
From the letter:
CESA is incorporated as a nonprofit organization comprised of state renewable energy funds and programs. CESA is the only multi-state coalition of such state funding agencies. Through CESA, these agencies work together to support renewable energy projects, companies, and markets. CESA also offers assistance to non-member states interested in establishing effective renewable energy funds and programs. CESA is engaged with state energy leaders in the vast majority of states across the country.
CESA members include clean energy programs in the states of Alaska, California, Connecticut, Maryland, Massachusetts, New Hampshire, New York, Oregon, Ohio, Pennsylvania, Vermont, and Wisconsin. The District of Columbia, Puerto Rico, the Long Island Power Authority, and the Sacramento Municipal Utility District also are CESA members.
These state-based programs are a major driver of clean energy deployment and investment in the United States. Our latest report, The Rising Tide of State-Supported Clean Energy Projects: Project Development Results from the CESA Database, 1998-2011, found that during that 14- year period, the state-administered programs invested over $3.4 billion dollars to support the deployment of more than 129,000 renewable energy projects, including solar, biomass, and wind projects.
The states, however, cannot build a strong clean energy economic sector without federal policy support. In particular, the federal PTC and ITC have been highly effective tools to complement state support for development of renewable energy projects. For example, the PTC, combined with state clean energy program support and renewable portfolio standards, has allowed the wind industry to lower the cost of wind power by more than 90%, provide power to the equivalent of over 12 million American homes, and foster economic development in all 50 states.
The PTC and ITC are set to expire at the end of 2012, and it is crucial that they be extended immediately. Failure to extend the federal tax credits will lead to significant job losses and roll back progress that the states have made to diversify the US electricity portfolio.
The full letter is downloadable as a PDF on CESA's website.