Foundation News

On New Year’s Day, Congress passed legislation that will extend the Production Tax Credit (PTC) for wind energy for one year.  The extension of the wind tax credit, as well as changes to the eligibility requirements, will allow the wind industry to resume its strong growth and hire back many of the workers who were laid off in the past year.  The wind industry supports more than 75,000 American-made jobs around the country, and the passage of the PTC will protect these jobs and the families they support.

Securing the PTC extension was one of Sierra Club's highest federal legislative priorities in 2012 and is a critical part of the effort to retire coal plants and slash carbon pollution.  Wind power had it best year ever in 2012, with more wind power installed than any other generation source, including coal, gas and nuclear.  Wind - along with energy efficiency, low natural gas prices, and rising coal costs - are the four reasons why in 2012 we averaged the retirement/announced retirement of one coal plant each week.  Wind is the most cost-competitive generation option, and with the PTC, is cheaper than new coal or new gas in most places.  As developers continue to install more efficient turbines, wind prices should continue to fall in the coming years, and at some point wind can out-compete gas and coal without the PTC.

This action was a clear victory in the face of significant opposition and it leaves the wind industry stronger and the prospects for continued growth and development of clean energy in much better shape.  The Sierra Club Foundation will continue to provide financial support to the Sierra Club to defend against polluting energy sources and clear the way for clean renewable energy solutions like wind.  As a 501(c)(3) public charity, no Sierra Club Foundation funds were used in lobbying for or against the PTC.