Senate Rejects PTC Extension Amendment

Editor’s Note: EarthTechling is proud to repost this article courtesy of Offshore Wind Wire

Addendum: A previous story of this version stated investment tax credit, when the framing actually referred more to the production tax credit. Thanks to Laura DiMugno for catching that.

The Senate has voted today to reject Sen. Debbie Stabenow’s amendment that would have extended the production tax credit for offshore wind power for one year.

Under current law, the PTC for offshore wind expires at the end of 2012.

offshore wind power, production tax credit

image via Shutterstock

The vote on the amendment was 49-49 but required 60 votes to pass.

Industry observers were disappointed by the vote. American Wind Energy Association CEO Denise Bode said “tens of thousands of American jobs are being put in peril by partisan gridlock.”

Oceana senior campaign director Jacqueline Savitz called the tax credit ”essential to … help our offshore wind industry catch up.”

“Rather than jump-starting this important energy source, today’s vote will instead choke the industry, slowing its development and delaying the many benefits it can provide,” Savitz said in a statement.