Skip to content
Subscriber Only

Lawmaker to Propose Extending Credit to Spur U.S. Offshore Wind

  • Investment tax credit grants developers 30% of costs
  • Markey to introduce legislation extending policy to 2025

U.S. Senator Edward J. Markey plans to introduce legislation “soon” to extend a federal tax credit that will spur wind-farm development in coastal waters.

The Massachusetts Democrat is seeking to extend the investment tax credit until 2025, he said at the U.S. Offshore Wind Leadership Conference in Boston Monday. The policy grants a 30 percent credit for the costs of developing renewable-energy projects.