Ocean Renewable

Cost Analysis of PTC for Wave By EPRI Ocean Project Manager

As discussed in this post, the Ocean Renewable Energy Coalition has filed testimony in support of a Production Tax Credit (PTC) for ocean, wave and current technologies.  We've also been working with contacts in the Senate to draft language for the PTC that's broad enough to capture a wide range of  wave, tidal, thermal and current technology with applications in oceans and non-impounded, free flowing lakes and rivers.

OREC Files Testimony on Production Tax Credit Before House SubCommittee

Although newly formed, OREC is fast on its way to making an impact on national legislation.  Here, you can read OREC's Written Testimony (Word document) before the Subcomittee on Select Revenue Measures of the House Committee on Ways and Means.  We'll be working on the Senate side as well to ensure inclusion of a production tax credit for ocean wave, current and tidal renewable developers.  It is anticipated that any PTC legislation will eventually be rolled into the larger energy bill which many sources believe is likely to pass this time around.  We will keep you posted here.