Hoeven: Xcel Energy Wind Project Example of All-of-the-Above Energy Policy
Senator Worked to Pass 5-Year Tax Credit Phase Down to Market-Based Rate to Support Wind Energy Development
BISMARCK, N.D. – Senator John Hoeven today welcomed Xcel Energy’s announcement that they will build a total of seven wind farms in the Upper Midwest, including in Dickey, Morton and Mercer Counties in North Dakota.
In late 2015, the senator successfully worked to build support for a compromise proposal to extend the wind production tax credit (PTC) for five years with a phase down to a market based rate. The Senate passed this compromise approach after a previous proposal to extend the credit failed.
“Xcel Energy’s plan to develop seven wind farms in North Dakota and the Upper Midwest is a good example of how we can use all of our resources to create jobs and economic growth,” said Hoeven. “We’re working to build a true, all-of-the-above energy policy for our nation, like we’ve done in North Dakota. That’s why we worked to pass a compromise proposal that allowed wind to have a glide path to a market based rate. This is a good example of federal policies that provide the certainty our energy industry – both renewable and traditional – need to succeed.”
During his time as Governor, Hoeven worked to establish a comprehensive energy plan for the State of North Dakota. The plan – Empower North Dakota – helped to ensure that the state’s energy sectors, both traditional and renewable, worked together in innovative and environmentally responsible ways. As a member of the U.S. Senate Energy Committee, Hoeven is working to create the same pro-business climate on the national level in order to build a states-first, all-of-the-above energy plan for our nation.
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