WIND
AAEA Testimony on Cape Wind Nantucket Sound Project
Wind Credit Passes In Congress
The Wind Energy Production Tax Credit (H.R. 1308) was passed in the House and Senate on September 23, 2004 as part of a major tax package extending a number of individual and business tax provisions. The 1.5 cent credit has been increased to a 1.8 cents per kWh credit and unfortunately has only been extended for one year -- until 2006. The tax break makes the cost per kilowatt hour competitive with other fuel sources, at about 5 cents per kilowatt hour. When Congress let the credit expire in 2003, it hurt the wind industry.
According to the American Wind Energy Association, worldwide, about 40,000 megawatts of utility-scale wind turbines are installed today—0.4 percent of the world's electricity demand. Europe makes up about 30,000 megawatts and the United States comprises roughly 6,300 MW, 1,687 of which were added last year.
Wind Power Opposed By Environmentalists And Waterfront Residents In Nantucket Sound
Environmentalists and other residents on and near the shore of Nantucket are opposing a 130 turbine, 24-square milie, $700 million, 420 megawatt wind energy farm proposed by Cape Wind Associates. It is estimated that the project will save $800 million in energy savings over 20 years and will create 400 new jobs for New Englanders.
The project is opposed by Robert Kennedy, Jr, Senator Ted Kennedy, Governor Mitt Romney and the Alliance to Protect Nantucket Sound, among others. Opponents claim the project will destroy the seascape, kill hundreds of birds annually, destroy shellfish beds, economically harm watermen, adversely affect tourism and recreation and there is no national off-shore permitting process.
The U.S. Army Corps of Engineers has completed a draft environmental impact statement that has a comment period open from Nov 2004 to Feb 2005. Massachusetts has a renewables portfolio requirement that mandates the renewables must make up one percent in 2003 and 4 percent by 2009.
Finally, natural gas use in Massachusetts has gone from one percent in 1980 to a projected 49 percent by 2010.
Wind Companies
| Wind Energy Cooperatives to Produce Electricity and Hydrogen
U.S. Wind Farming, Inc.www.uswindfarming.com, America's only publicly traded wind energy company, will create electricity for sale during peak load requirement times and hydrogen for sale during off-peak times. U.S. Wind Farming expects to commission GE Wind Energy www.gewindenergy.com to install and maintain all wind turbines for their wind energy electricity/hydrogen cooperatives nationwide.
U.S. Wind Farming expects to commission Stuart Energy www.stuartenergy.com to install and maintain all hydrogen production/pressurization/storage and dispensing equipment for their wind energy electricity/hydrogen cooperatives nationwide.
Existing wind farms and new wind energy capable sites for these revolutionary new wind energy electricity/hydrogen cooperatives have approached U.S. Wind Farming. Initial sites under consideration for development are located in California, Hawaii, Nebraska, North Carolina, New York, Tennessee, Oregon, Colorado, Wisconsin, South Dakota, North Dakota and Iowa.
U.S. Wind Farming, Inc. has entered into a development contract for a 100-Megawatt Wind Energy Electricity/Hydrogen Cooperative in the Baltic Sea region of Poland.
U.S. Wind Farming has entered into a development contract with two new wind energy electricity/hydrogen cooperative sites in China.
U.S. Wind Farming has entered into a development contract to provide and operate a hydrogen cooperative attached to a 350-megawatt gas-fired facility in upstate New York.
U.S. Wind Farming has approached Aruba, St. Croix and several other Caribbean Islands to install wind energy electricity/hydrogen cooperatives. Final negotiations and contracts are forthcoming. |
AES Buys Wind Company
Jan 2005 -- Arlington, Virginia-based AES (NYSE: AES) has purchased SeaWest Holdings, a wind power project for $60 million. In addition, AES will purchase and build a 120-megawatt wind power project in Texas at an estimated cost of $165 million. In terms of pure generating scale, SeaWest's facilities have the capacity to generate approximately 500 MW of power,
Important Announcement
