US presidential candidates look set to fall out over renewables

Posted at August 3, 2012 » By : » Categories : News » Comments Off on US presidential candidates look set to fall out over renewables

While the a US Senate committee has agreed to extend tax breaks for wind energy generators, presidential candidate Mitt Romney has indicated that he will end the scheme.

Production tax credits (PTCs) have helped drive new investment in wind farms in the US, making it now the second largest market after China.

But while the PTC has been extended by the Senate Finance Committee – after a long-running battle – Romney has confirmed that if he takes office he would allow the tax break to lapse.

According to media reports, a spokesperson for Romney’s campaign says he wants to create a “level playing field on which all sources of energy can compete on their merits”.

Current President Barack Obama, by contrast, stated earlier this year that he would make tax credits for renewable energy permanent.

The extension of the PTC still faces s stiff battle in the Republican-led House of Representatives and is unlikely to come to a vote until after the election in November.

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Related stories:
Global renewables investment soars to $257 billion (11-Jun)
US Senate rejects motion to extend renewables tax credits (15-Mar)
Obama promises to make renewable energy tax breaks permanent (24-Feb)

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