Wind power in the United States
The 2011 NREL report, "Large-Scale Offshore Wind Power in the United States", analyzes the current state of the offshore wind energy industry. According to the report, offshore wind resource development would help the country to achieve 20% of its electric power from wind by 2030 and to revitalize the manufacturing sector. Offshore wind could supply 54 gigawatts of capacity to the nation's electrical grid, thereby increasing energy security. It could also generate an estimated $200 billion in new economic activity and create thousands of permanent jobs. NREL’s report concludes that "the development of the nation’s offshore wind resources can provide many potential benefits, and that offshore wind energy could play a vital role in future U.S. energy markets".
Wind power
In the US, wind power receives a production tax credit (PTC) of 1.5¢/kWh in 1993 dollars for each kW·h produced, for the first ten years; at 2.2 cents per kW·h in 2012, the credit was renewed on 2 January 2012, to include construction begun in 2013.
A 30% tax credit can be applied instead of receiving the PTC.
Another tax benefit is accelerated depreciation. Many American states also provide incentives, such as exemption from property tax, mandated purchases, and additional markets for "green credits". The Energy Improvement and Extension Act of 2008 contains extensions of credits for wind, including microturbines. Countries such as Canada and Germany also provide incentives for wind turbine construction, such as tax credits or minimum purchase prices for wind generation, with assured grid access (sometimes referred to as feed-in tariffs). These feed-in tariffs are typically set well above average electric power prices.
In December 2013 U.S. Senator Lamar Alexander and other Republican senators argued that the "wind energy production tax credit should be allowed to expire at the end of 2013" and it expired 1 January 2014 for new installations.