More Details on Ocean in the Senate Energy Bill

The recently passed Senate bill that we posted on here contains many benefits for the ocean energy industry.  While the Senate bill isn't yet available online, we've given a run down of some of the amendments it contains that will help stimulate the ocean energy industry in the United States and move us on a course towards commercialization.  Just click on "read more" to view.

Murkowski Amendment.pdf- This amendment sponsored by Senator Murkowski ensures that ocean energy projects qualify for both the Renewable Energy Production Incentive and the mandatory federal purchase requirements in the Senate energy bill. These amendments bring the Senate bill into conformity with the House version, which extends these benefits to ocean energy as well.

Grassley Bill H.R. 6 - PTC.pdf -  (note - the Grassley amendments are not yet available on line. Those are the amendments that contain the ocean benefits.  We will post them when available).  OREC considers the Grassley Amendment, which extends the production tax credit (PTC) to ocean to be one of our greatest victories.  To our knowlege, this is the first time that ocean was even proposed as an eligible technology for the PTC and to be included on the first attempt is really exciting.  Moreover, the language adopted in the amendment is broad enough to encompass a wide range of ocean technologies which may have river based applications as well.  The PTC has been a powerful driver for other renewable industries and we hope that it will similarly stimulate ocean development.  But we can't stop here - the House bill does not include ocean in a PTC and thus, we need to really push hard to ensure that we don't lose what we've gained in the Senate.

BingamanRPS.pdf - The Bingaman amendment includes a Renewable Portfolio Standard (RPS) which requires utilities to purchase or generate a certain percentage of  their power from renewables - 2 percent in the early years, building up to 10 percent. Ocean is identified as one of the renewable technologies that utilities can purchase or produce to meet the RPS standard.

Alexanderwindmillsiting.pdf The Alexander amendment to the energy bill, which, among other things, would have killed the PTC for offshore wind and given adjacent states veto power over offshore projects located in neighboring states, was rejected. 

Please contact us at OREC at loce@his.com if you have any other questions about the legislation or would like to offer support as we move on to conference.