Obama supports tax credits that help wind and solar industries. Wind energy contributed 32 percent of all new US electric-capacity additions last year, representing $14 billion in new investment, according to a new report by the Department of Energy. Total US wind power capacity grew to 47,000 megawatts by the end of 2011 and stands today at 50,000 megawatts, enough to supply 12 million homes annually – roughly the number in California, the DOE reports.
Under Romney’s plan, wind energy would get the same fast-track permitting that other energy sources do. But Romney wants a "level playing field" for all sources of energy. The production tax credit PTC, which was created during the previous Bush administration and extended under Obama, is set to expire at the end of this year unless renewed. As president, Romney says he would allow both the PTC and another credit important to the wind and solar industries, the investment tax credit (ITC), to expire, according to a Romney campaign position statement reported by Energy & Environment Daily.
Alternative energy like wind and solar are good, Romney said at a campaign stop earlier this year, but they don't power automobiles. "You can't drive a car with a windmill on it," Romney said.
That position could hurt Romney in battleground states like Iowa and Colorado, which have significant wind-energy industries.
"The wind industry now supports 7,000 jobs here in Iowa," Obama said while stumping there in August 2011. "These are good jobs, and they're a source of pride that we need to fight for."
