Offshore Wind Incentives for New Development Act Reintroduced

Source/Sponsor: 
Senators Edward J. Markey (MA) and Sheldon Whitehouse (RI), and Congressman Jim Langevin (RI)
Creator/Author: 
Senators Edward J. Markey (MA) and Sheldon Whitehouse (RI), and Congressman Jim Langevin (RI)
Description: 

The Offshore Wind Incentives for New Development (Offshore WIND) Act would extend the 30 percent Investment Tax Credit for offshore wind through 2025. The 2015 omnibus bill extended the Production Tax Credit (PTC) and Investment Tax Credit (ITC) for wind until 2019. But because of the longer planning and permitting times currently needed for offshore wind, the Department of Energy has found that no additional offshore wind projects are projected to be able to qualify for these tax credits before they expire.

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Publication Date: 
Thursday, May 11, 2017
Resource Type: 
Document