Markey introduces tax credits for renewable energy

Wind and solar power are the energy sources of the future, and Colorado is in a unique position to take the lead on bringing these forms of renewable energy to millions of people in Western America. However, upgrading the existing power grids to utilize these forms of energy is both time consuming and expensive for utility companies.

This past week, Rep. Betsy Markey (D-Fort Collins), unveiled the Renewable Electricity Integration Tax Credit Act, which is intended to "relieve the burden faced by utilities bringing intermittent renewable energy like wind and solar online, and help bring down the cost of clean energy production” (Coloradoan).

Markey believes that this bill will encourage more utilities to integrate solar and wind power more deeply into their energy offerings, and give consumers more of an option to choose to offset electricity normally generated with fossil fuels.

Of course, everyone in Colorado is hoping that Gov. Ritter's "New Energy Economy" will also bring new jobs to the region, in addition to reducing the state's contribution to global climate change in the form of fewer greenhouse gas emissions.

“Our corner of Colorado is today what Silicon Valley was in the 1980s,” Markey told the Coloradoan. “We are on the cusp of a revolution in American energy production that will break our dependence on foreign oil and take control of the way we power America. People will look to Colorado as a leader because we’ve been doing it longer and better than anyone else. It’s time for America to take back control of our energy, our security, and our jobs.”

It remains to be seen whether the propsed bill will have any affect on the costs consumers face for heating and powering their homes and businesses.