MidAmerican Wind Energy

On Oct. 3, 2008, Congress passed H.R. 1424, the Emergency Economic Stabilization Act of 2008. Signed into law by President Bush the same day, this legislation continues the production tax credit for wind energy and extends credits for other renewable sources of energy such as solar and geothermal through Dec. 31, 2009. By reauthorizing the production tax credit, Congress has ensured that the remarkable growth of wind power in Iowa will continue—along with the fresh economic opportunities and emissions-free energy that it provides.

From its creation in the Energy Policy Act of 1992, the wind energy production tax credit has spurred the growth of clean, emissions-free wind energy for MidAmerican’s customers. By encouraging investment in equipment and facilities associated with the generation of electricity from wind, the production tax credit also promotes U.S. jobs in construction, manufacturing and maintenance.

This has resulted in more than 5,200 megawatts of wind power installed during 2007 alone—expanding the nation's total wind energy capacity by 45 percent. In Iowa, the production tax credit has helped MidAmerican Energy expand its wind energy fleet to 1100 megawatts. By the end of 2008, Iowa will rank third in the United States for total installed wind power, trailing only Texas and California.