Democrats, environmentalists and clean energy backers hope GOP presidential candidate Mitt Romney’s solidified opposition to a key wind energy tax break helps motivate voters in closely contested, windy states to tip the election toward President Obama. Romney’s campaign Monday said for the first time that the presumptive Republican nominee would like to see the production tax credit (PTC) lapse as scheduled at the end of this year (E&E Daily, July 31). That position puts him at odds with Republicans in states like Iowa that want to see the credit extended, and it is a harder line than had been taken by many senior GOP lawmakers, who have said the credit should phase out over a number of years.
The Senate Finance Committee will mark up a tax extenders package tomorrow that includes “renewable energy incentives,” committee leaders announced early this morning. The committee had been negotiating for weeks on the package, which will include “dozens” of targeted tax incentives that are set to expire at the end of this year or expired last year.
A 70-megawatt wind farm in northwest Maryland would be the first in the Northeast to receive an approved habitat conservation plan under a draft proposal unveiled today by the Fish and Wildlife Service.
Mitt Romney’s presidential campaign came out yesterday with its strongest opposition to date on extending a key wind industry tax credit, saying the presumptive Republican nominee will allow it “to expire” and tying the issue to broader opposition to President Obama’s support for renewable energy. Romney had not shied away from criticizing Obama’s support for renewable energy — highlighting the loan guarantee to now-bankrupt solar panel manufacturer Solyndra, among other issues, at numerous campaign stops this year — but the candidate until yesterday had avoided taking a firm position on the production tax credit for wind, which is set to expire at the end of the year.
The lines are now drawn on a political hot button in Iowa: a lucrative tax break for wind energy. Mitt Romney is against it, President Barack Obama favors it — opposing stances that could have political and economic implications in Iowa, which has more wind energy jobs than any other state in the nation.
The Obama administration ruled Friday that Chinese and Vietnamese manufacturers of steel towers used in utility-scale wind turbines have been selling their products in the United States at less than fair value, handing another victory to American manufacturers and escalating an ongoing renewable energy trade battle. In its preliminary determination today, the Commerce Department set tariff rates of 20.85 percent to 72.69 percent to counter dumping practices by Chinese producers. The tariff on Vietnamese manufactures was set at 52.67 percent to 59.91 percent.
Chinese manufacturers have been illegally selling steel towers for wind turbines below the cost of production and will have to pay duties of 20.85 to 72.69 percent on imports, the United States Commerce Department said Friday in a preliminary ruling in an antidumping case brought by four American tower manufacturers.
The pricing pressure in the wind turbine industry will continue because of overcapacities, Siemens AG (SIE) Chief Executive Officer Peter Loescher said.“We continue to see capacity adjustments, overcapacity” and therefore continued pricing pressure in the renewables business, Loescher said today during a call with analysts.
The much-vaunted European electricity supergrid, supposed to assist the birth of a low-carbon electricity future by making renewable power from the wind-blown north and sun-soaked south flow seamlessly across the continent, is moving at a snail’s pace as political will withers and economies ebb. Renewable energy industry participants are taking tentative steps, but they are hampered by the shifting economic and political landscape as the global economic downturn shows no sign of evaporating and the homegrown European financial crisis seems to get more entrenched with every move to end it.
The Senate’s top tax writer emerged from a closed-door session last night “very encouraged” that lawmakers would be able to agree on a package to extend a variety of temporary tax breaks that expired last year or are set to do so this year, although the contents of such a package and timing to get it to the floor remain in flux.