Today, the House Ways and Means Committee released a comprehensive clean energy tax package that includes a five-year extension of the 30% Investment Tax Credit (ITC) and extends benefits to the U.S. offshore wind sector.
“I applaud the committee for including extending the 30 percent ITC and providing benefits to the U.S. offshore wind sector. This is a critical time for the U.S. offshore wind industry with over 8000 MW of offshore wind currently under development. The ITC is a key incentive that will support development of these projects and build out a $1 trillion industry over the next twenty years,” said Liz Burdock, CEO & President of the Business Network for Offshore Wind.
“As we await the go-ahead from federal regulators, Congress now has an opportunity to support this proven, utility-scale clean energy technology that effectively combats climate change. It’s imperative that an extension of the ITC which includes offshore remains a priority in their end-of-year negotiations in order to support the thousands of domestic supply chain companies ready to work in the growing U.S. offshore wind sector.”
About the Business Network for Offshore Wind
The Business Network for Offshore Wind is the leading 501(c)(3) nonprofit organization solely focused on developing the US offshore wind industry and advancing its supply chain. We are not a trade association of many voices; we are one leading voice for the offshore wind business community, in the states, at the federal level, and globally. We bring together developers, policymakers, academia, global experts and hundreds of member businesses for critical discussions and unprecedented networking opportunities. We empower our members with the education, tools, and connections necessary to participate in this booming industry. Click for more information on joining the Business Network.