King: Wind Must Have Market Access
Thursday, April 26, 2012
Washington, DC- Congressman Steve King (R-IA) released the following statement and video from his testimony before the Ways and Means Subcommittee on Select Revenue Measures today on the urgency of reauthorizing the Production Tax Credit for wind energy generation:
"When we come up with new renewable energy, or any kind of energy source you have to find a way to have market access," said King."I was involved in the ethanol industry early. I've been involved in the bio diesel industry. Now the wind industry. My congressional district produces more renewable energy than any other Congressional district out of all 435 in America."
"I go back to sometime in the 70's when we first began with these endeavors. One of the challenges of course is technology, and a normal wind turbine back in those earlier years would produce about 1/6th of the electricity that a single wind turbine does today. But it's always been the technology, the engineering is one challenge- the next challenge is market access. We have tremendous wind energy infrastructure that's been built, but that infrastructure has to have a little pay down on the return of investment before it can sustain itself."