Over $8 billion dollars of renewable investment in Washington
Olympia, WA – 13 renewable energy companies and advocacy groups issued a letter to Washington Governor Jay Inslee today urging support of Senate Bill 5896. If passed, the bill would extend the renewable sales and use tax exemption, which has provided a tangible incentive for clean energy businesses to locate their projects in the state. The policy will otherwise expire in June.
The policy results in a net benefit for the state, explains Ben Fairbanks, Business Development Director for First Wind about the incentive: “The Palouse Wind Project in Whitman County invested over $30 million locally during construction and will generate over $1,000,000 each year in public benefits. This policy is one of the reasons for our project’s success, and it should be extended.”
The letter states that the sales tax exemption brings business to Washington and makes the state more competitive with other non-sales tax states such as Oregon, Idaho and Montana.
Renewable energy policies in Washington have resulted in $8 billion of capital investment, creating more than 5,000 construction jobs and over 1,200 permanent operations and manufacturing positions. The policy also helps the state’s utilities in achieving their renewables requirements set forth by Initiative 937.
States Rachel Shimshak, executive director of Renewable Northwest Project, “Stable, long term renewable energy policies are smart business practice and create a positive climate for clean energy development.”
Signers of the letter include: American Wind Energy Association, Climate Solutions, EDF Renewables, EDP Renewables, Everpower, First Wind, Iberdrola Renewables, NW Energy Coalition, REC Silicon, Renewable Northwest Project, RES America Developments, SolarCity Corporation, and Vestas.
Download the letter at:
Renewable Northwest Project is a regional nonprofit advocacy organization promoting the expansion of environmentally responsible renewable energy resources in the Northwest and a member of the NW Energy Coalition. For more information, visit http://www.rnp.org.