Senators propose tax credit for US deepwater wind farms

Four US senators have proposed bipartisan legislation that provides a long-term production tax credit for development of wind facilities in waters deeper than 60 meters.

The Deepwater Offshore Wind Incentive Act would provide a tax incentive of 3.04 cents a kilowatt for the first 6,000 megawatts of US deepwater offshore wind production.

Co-sponsors of the bill are Maine Republican Senators Susan Collins and Olympia Snowe, and Democrats Thomas Carper of Delaware and Sherrod Brown of Ohio.

The tax credit would be in place until 2020 to complement the US Energy Department’s “20% by 2030 Report” that outlined key policies, including long-term tax incentives, to produce 20% of American’s electricity from wind by 2030.

Snowe says that placing turbines in…

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