Listen to this week’s radio segment here or read the transcript below. This week’s episode discusses the potential effects of the upcoming presidential election on the wind energy industry.
The 2012 presidential election may greatly impact the future of wind energy in our country.
This is the Iowa Environmental Focus.
Currently, wind farms receive a tax credit of 2.2 cents per kilowatt-hour of electricity they produce. This adds up to about $3 billion a year in subsidies. Reports indicate that Mitt Romney plans to let these tax credits expire, whereas President Obama has publically stated his desire to extend the tax credits.
In addition to providing a renewable clean energy source, wind energy has created jobs throughout the nation – including 7,000 in Iowa. Due to the tax credit’s uncertain future, layoffs have already begun in the wind industry including Cedar Rapids where 75 employees lost their jobs at the Clipper Windpower plant.
Opponents of the tax credit feel that the wind industry should survive on its own merits rather than rely on government subsidies.
For more information on wind energy tax credits, visit IowaEnvironmentalFocus.org.
From the UI Center for Global and Regional Environmental Research, I’m Jerry Schnoor.