Today, Sen. Tom Carper (D-Del.) voted for an amendment to preserve key tax credits which encourage the development and deployment of alternative energy measures. These tax credits, which have expired or are set to expire, benefit a number of energy industries in Delaware such as offshore wind, solar, and advanced biofuels.
The amendment, offered by Sen. Debbie Stabenow (D-Mich.), included a modified version of Sen. Carper’s bipartisan legislation to extend the Investment Tax Credit for offshore wind – a crucial measure for the offshore wind industry. The amendment failed by a vote of 49 to 49 – 60 votes were required for the measure to be included in S.1813, the Surface Transportation bill. His statement follows:
“ Encouraging companies to continue to invest in and produce domestic alternative energy sources is a critical part of our effort to reduce our dependence on foreign oil, curb harmful air pollution, and create thousands of jobs in Delaware and across the country. These important tax credits help create a more nurturing environment for businesses large and small, rural and urban, to grow their workforce and grow our domestic energy production. Innovative companies in Delaware have already seen success from these tax incentives, and continuing these tax credits would create even more job opportunities for Delawareans. For example, this amendment included important incentives for the production of biofuels that aren’t made from corn grain. These alternative biofuels have been developed by companies like DuPont and will lower our costs at the pump and at the grocery store.
“ This amendment also included a modified version of my offshore wind investment tax credit, which would encourage offshore wind development in our state and nation. Power harnessed from the wind off our shores can not only provide us with clean, reliable energy to heat and cool our homes, but can now also provide clean energy to fuel our electric vehicles. Furthermore, this amendment included tax credits for products that make homes more energy efficient – like the energy efficient windows produced at BF Rich Windows and Doors in Newark, Del. With a more energy efficient home, energy use goes down and energy costs go down – saving consumers money in the long run. Finally, this amendment incentivizes other clean energy production, like wind and solar, helping to reduce our dependence on fossil fuels and build more jobs for Delaware companies that have heavily invested in clean energy technology, like DuPont, W.L. Gore and SolarDock. Although I am disappointed that this amendment did not pass, I will continue to push for smart tax incentives that create jobs while helping to make clean energy and energy independence a reality in our nation. ”
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Offshore WIND Staff, March 15, 2012; Image: carper.senate