The
Incentivizing
Offshore
Wind
Power
Act
would
give
developers
awarded
the
federal
investment
tax
credit
(ITC)
a
five-year
window
to
complete
their
projects.
While
offshore
wind
projects
are
in
theory
eligible
for
the
ITC
along
with
onshore
facilities,
they
are
effectively
excluded
by
long
lead-times
that
give
them
no
hope
of
completing
in
time.
These
conflict
with
the
tendency
of
Congress
to
renew
the
incentive
for
just
a
year
or
two
at
a
time.
The
ITC
for
wind
expires
at
the
end
of
2012
and
industry
officials
believe
only
another
short
extension
is…
