Renewable energy projects, including wind, solar, biomass, etc., continue to rely upon critical tax and other incentives to be cost effective. In the future such incentives may prove unnecessary but now, during the relative infancy of the renewable energy industry, projects would not proceed absent such incentives.

Federal legislation has been introduced to extend the 30 % tax credits for offshore wind projects past the current expiration at the end of 2011. As the industry matures, costs and efficiency of renewable energy projects improve, but for now if we are to reduce carbon footprint (greenhouse gases), emissions and the geo-political impacts of fossil fuels, these tax incentives continue to be a necessary component of this industry that is creating important job opportunities and reducing energy costs.