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Renewable Subsidies and Candidate Voting Records

Page history last edited by PBworks 11 years, 10 months ago

Renewable Energy Tax Credit Legislation Voted Down in U.S. Senate

 

Washington, D.C., United States [RenewableEnergyWorld.com]

A bill introduced by Senate Tax Committee Chairman Max Baucus (D-MT) and Senate Majority Leader Harry Reid (D-NV) containing a one-year renewable energy production tax credit (PTC) extension and a small wind turbine investment tax credit has failed to move past a Cloture Vote in the U.S. Senate once again.

 

"Already companies are putting projects on hold and preparing to send thousands of jobs overseas -- real jobs that would otherwise be filled by American workers. Failure to extend the solar tax credits is a severe blow to an industry that has proven to be an economic engine for the U.S. at a time when we need it most." -- Rhone Resch, President, SEIA

 

The American Wind Energy Association's (AWEA) senior director of governmental & public affairs Gregory Wetstone said that the failure by the senate to move forward to consideration of the bill will cost the U.S. economy 116,000 jobs and nearly US $19 billion for the wind industry alone.

 

“Thoughtful Americans, including Al Gore and T. Boone Pickens, have recently put forth visionary proposals to address our greatest energy challenges with an enhanced commitment to renewable energy. But we have to begin by continuing the one major federal policy we have that promotes renewable energy — the renewable production tax credit,” Wetstone said.

 

Rhone Resch, president of the Solar Energy Industries Association (SEIA) said that the solar industries are running out of time before they begin to lose contracts and projects get put on hold.

 

“Time is running out to extend the solar tax credits and without passage in the immediate future, tens of thousands of jobs and billions of dollars will be lost in new solar investment. Already companies are putting projects on hold and preparing to send thousands of jobs overseas — real jobs that would otherwise be filled by American workers. Failure to extend the solar tax credits is a severe blow to an industry that has proven to be an economic engine for the U.S. at a time when we need it most,” Resch said.

 

The Senate bill, S. 3335, contains a one-year PTC extension at its current value. After December 31, 2009, any further extension would include the "presumption" of a cost cap, which would, through a complex formula, put a ceiling on the value of the credits of no greater than 35% of project value. The small wind ITC has a cap of US $4,000 per system. The 10-year cost for the PTC, including all technologies to which it applies, is projected to be approximately US $7 billion, while the ITC, which includes solar, would cost approximately US $907 million over 10 years.

 

The bill also includes provisions to extend through 2014 the tax credits for solar energy, fuel cell and microturbine property, as well as the residential energy efficient property tax credit. Marine renewable energies could also benefit from the bill as credits to build wave, tidal, current and ocean thermal energy conversion systems of at least 150 kilowatts (kW) are extended through the end of 2011.

 

The 10-year cost for the PTC, including all technologies to which it applies is projected to be approximately US $7 billion, while the ITC, which includes solar, would cost approximately US $907 million over 10 years.

 

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post a new comment Reader Comments (17) Author:

Gary Resnikoff

 

Date Posted:

31 July 2008

It would be nice to publish a list or a link to those that voted against the bill.

Comment 1 of 17

Author:

Chris

 

Date Posted:

31 July 2008

Here you go Gary.

 

Here is the voting record of each Senator of the 110th Congress on the last 8 attempts to pass energy legislation that contained renewal of the tax incentives for renewables.

 

http://seia.org/Score%20Sheet%20110%20Congress%207.30.08.pdf

Comment 2 of 17

Author:

Brian Ballek

 

Date Posted:

31 July 2008

Thanks for that list Chris.

 

I counted 32 examples of "not voting" in that list. John Mc Cain alone accounts for 8 of them -- 25%. He failed to vote (for or against) for ANY of the 8 renewable energy bills mentioned in that list. So much for "straight talk". And this from the Senator from ARIZONA, possibly the sunniest state in the USA and home of First Solar, the current undisputed low cost leader of solar panel manufacturers (at least until MiaSole and NanoSolar begin shipping serious volumes).

 

But wait it gets worse! Senator Obama failed to vote for or against any of the last 5 bills. Together, McCain and Obama account for 40% of the times a Senator didn't know enough about the topic to support or reject a bill, or simply couldn't be bothered to do so.

 

I realize they have both been campaining and rather busy. But it makes me sick, all the same.

Comment 3 of 17

Author:

Chris

 

Date Posted:

31 July 2008

Noteworthy is the 12/13/07 vote that failed Cloture by one (1) vote. The only Senator not voting on the measure was John McCain.

 

What might have been that day...

 

Water under the bridge perhaps...

Comment 4 of 17

Author:

Brian Ballek

 

Date Posted:

31 July 2008

Not for me: McCain lost my vote that day. That single act of political cowardice cost him all credibility in my eyes.

Comment 5 of 17

Author:

Clay Hopmann

 

Date Posted:

31 July 2008

This inaction of our politicians is so very sad! They are a sad lot. I remember the last vote where we only needed 8 votes. McCain, Hillary, Obama and Kennedy did not care to show up for this much needed bill. Maybe Kennedy was sick but the rest should have been there! Again, politicians are following the money! They could care less about the nation just as long as their pocket is full of cold cash. Those not supporting renewable energy should be ashamed of themselves. Our nation is on the verge of economic colapse with higher fossil fuel prices and as usual, the politicians are sleeping with their hand in the candy jar. It's time to push through as many solar systems as possible before the end of the year!

 

Very good previous posts! I agree 100%!

 

Keep up the message friends!

Comment 6 of 17

Author:

mike barz

 

Date Posted:

31 July 2008

Well the grease and oil party is very powerful and unfortunately most have a R in front of their names. If you watch cspan it was clear who was bought.It cost the oil compaies 1.1 million for Mccain to change his mind about off shore drilling. But come November will see if we can change the direction that this nation is going.

Comment 7 of 17

Author:

Carl Leuschner

 

Date Posted:

31 July 2008

While it wouldn't have mattered given the 51-43 outcome, can anyone explain why Reid voted "nay" on the cloture vote for the Senate version....a bill that he introduced?

 

The disconnect between McCain's campaign trail rhetoric and voting record (or lack thereof) assures he'll not get my vote.

Comment 8 of 17

Author:

Patrick Dugan

 

Date Posted:

31 July 2008

On the bright side, there's stiff sufficient subsidies in key markets for the most competitive technologies to be profitable. Perhaps some voted against this measure because they felt money could be apportioned for renewables in a more efficient manner. Odds are those people are vastly outnumbered by the bought-and-paid-for.

 

My point is, the market can adapt, just not as comfortable as we would all like.

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