The National Governors Association sent a letter signed by all 50 state governors to Congress last week, urging the federal lawmakers to extend tax incentives for renewable energy projects, like wind farms and solar installations.
Several attempts to extend the tax credits have failed in the Senate this year. The credits are due to expire at the end of 2008, and the renewable energy industry is already beginning to feel the effects of an uncertain business climate for projects beginning in 2009.
The letter, which was sent to majority and minority leaders in both houses calls for an extension of at least five years for the tax provisions meant to encourage the development of renewable energy sources and energy efficiency.
"Extending these credits is critical and action must be taken as soon as possible," the letter said.
"We also encourage Congress to continue to develop incentives for programs that help families and businesses use energy-efficient building techniques, materials, and equipment readily available in today’s market. Extending incentives for energy efficiency and conservation will slow the growth of future energy needs, minimize ratepayer costs, and lessen potential environmental impacts."
There has been no recent news concerning new proposals to extend the credits.
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