Environment North Carolina Statement:
"We applaud the Senate for adding the Cantwell-Ensign amendment to the housing stimulus bill. This package will help finally push extensions of crucial renewable energy and energy efficiency tax incentives over the finish line.
The emerging clean energy industries, like wind and solar power, are starting to solve global warming and our energy problems, while creating jobs that help the economy and our environment. Unfortunately much of the federal support for these industries, namely the renewable energy production tax credit and the solar investment tax credit, are set to expire at the end of this year. We can’t afford to wait for the next president to right our course—there are too many important projects hanging in the balance and too many jobs at stake. Without a timely renewal of the renewable tax credits, for example, a study by Navigant Consulting predicts a dramatic decline in investment, as much as $19 billion, and the loss of approximately 116,000 jobs.
The clean energy incentives included in this bill would not only stimulate the economy in the short-term by continuing job creation and spurring investment, but would also help solve global warming and promote long-term development and growth in the clean energy technology industry.
We urge the House to quickly pass, and the President to sign, these overdue extensions."
