Today, 19 companies, including major consumer brands and several Fortune 500 firms, wrote to Congressional leaders encouraging them to extend the Production Tax Credit (PTC), a key provision supporting renewable energy.
The PTC provides a tax credit of 2.2 cents per kilowatt-hour of renewable power generated and, if lawmakers fail to act, is set to expire in 2012. Originally signed into law by George H.W. Bush, the tax credit has helped to strengthen energy diversity, reduce reliance on fossil fuels and keep electricity costs low for homes and businesses across the country.
“For consumers of wind electricity, the economic benefits of the PTC are tremendous. The PTC has enabled the industry to slash wind energy costs – 90% since 1980 – a big reason why companies like ours are buying increasing amounts of renewable energy,” the companies wrote in their letter. “Extending the PTC lowers prices for all consumers, keeps America competitive in a global marketplace and creates homegrown American jobs.”
The signatories of the letter demonstrate how a broad cross-section of U.S. companies is increasingly relying on inexpensive and abundant American wind energy to power their businesses. The signers include: Akamai Technologies; Annie’s, Inc.; Aspen Skiing Company; Ben & Jerry’s; Clif Bar; Johnson & Johnson; Jones Lang LaSalle; Levi Strauss & Co; New Belgium Brewing; The North Face; Pitney Bowes; the Portland Trail Blazers; Seventh Generation; Sprint; Starbucks; Stonyfield Farm; Symantec; Timberland; and Yahoo!. Many of these firms are members of Business for Innovative Climate & Energy Policy (BICEP) [ http://www.ceres.org/bicep ], a project of Ceres.
Sprint, a national top 50 green power purchaser, highlighted the PTC’s importance to meeting its renewable energy goals:
“Sprint has committed to reduce its reliance on fossil fuels and increase its use of renewable energy sources for electricity,” said Amy Hargroves, manager, corporate social responsibility at Sprint. “That’s why we have been actively working to meet our goal to secure 10 percent of our total electricity through renewable energy sources by 2017. We support the extension of the Production Tax Credit for wind because it has enabled companies like Sprint to make the shift to abundant, clean, and homegrown wind energy.” Continue reading more…