US Senators Reed and Whitehouse Seek To Stoke Offshore Wind’s Potential For Clean Energy; Jobs

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News Release from the Office of US Senator Whitehouse:
08.01.17
REED, WHITEHOUSE SEEK TO STOKE OFFSHORE WIND’S POTENTIAL FOR JOB CREATION & CLEAN ENERGY
Bipartisan bill establishes investment tax credit for first 3,000 megawatts of new offshore turbines
Washington, D.C. – With America’s first-ever offshore wind farm completed off the coast of Rhode Island, U.S. Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI) are teaming up with Tom Carper (D-DE), Susan Collins (R-ME), and several of their colleagues in introducing the Incentivizing Offshore Wind Power Act.  This bipartisan legislation would provide critical financial incentives to spur more investment in offshore wind energy.  The bill would create an investment tax credit that is redeemable for the first 3,000 megawatts of offshore wind facilities placed into service, amounting to approximately new 600 wind turbines.

In the past, Congress has offered a temporary credit for investments in wind power, but the…

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