Action on Offshore Wind Good News for Bobcats
This week marked an important step towards decreasing global warming pollution from fossil fuels that threatens the habitat of bobcats and other wildlife.
Bobcats' shoreline habitats are threatened by global warming. As the sea level rises, too much salt-water enters the tidal swamps--killing trees and plants that depend on the ecosystem's delicate balance of freshwater and seawater.
Offshore wind power is a critical part of the solution to cutting global warming pollution from fossil fuels, and there are nearly a thousand turbines creating jobs and clean energy overseas. But here in America, the offshore wind energy industry is suffering from a lack of investment that is critical to its growth.
This week the push to provide the offshore wind industry with badly needed financial support took an important step forward. A bipartisan bill was introduced in the House of Representatives by Reps. Pascrell & Lobiondo (both of New Jersey) to provide an investment tax credit for offshore wind projects.
The “Incentivizing Offshore Wind Power Act” (HR 3238) is the House companion to a bill of the same name (S. 1397) from Sen. TomCarper (D-DE) & Sen. Olympia Snowe (R-ME) that currently has eight other Senate cosponsors.
Under current law, the investment tax credit for offshore wind expires at the end of 2012, which makes the financing of offshore wind projects nearly impossible. The "Incentivizing Offshore Wind Power Act" would do away with this deadline and instead provide a 30 percent investment tax credit for the first 3,000 megawatts of offshore wind placed in service.
The National Wildlife Federation is working to build support for this important bill and encourage more members of Congress to stand up as cosponsors of the bill.