Wind power is far from the solution to America’s energy dependency problem, nonetheless wind power is part of the solution. Moreover, the construction of wind turbines creates hundreds if not thousands of construction industry and manufacturing jobs.
Wind power generation firms stand to lose a generous tax credit related to power generated by wind turbines. Currently, generators of wind power receive a 2.2 cent credit for ever kilowatt of wind energy they produce and Congress has extended the credit seven times since 1992. Loss of the credit may result in layoffs and furloughs in the industry. This is hardly the time for more layoffs.
I am all for tax credits over direct subsidies for industries in which we want to encourage growth. However, tax credits should not be limited to wind power. Similar tax credits should be extended to equally, if not more, promising forms of power such as natural gas, and mini-nuclear.