Washington, Feb 21 - Today, Rep. Bruce Braley (D-Iowa) discussed his Clean Energy Investment Act, a bill to boost wind energy production in Iowa and the United States, at stops in eastern Iowa.

This morning, Braley toured Clipper Wind Power in Cedar Rapids, a manufacturer of wind turbines.  Later in the day, Braley visited the “Watts Up with Energy” exhibit at Bettendorf’s Family Museum of Arts and Sciences to discuss his wind energy bill.

“Iowa has the potential to be the wind energy capital of the Midwest,” Braley said.  “Wind energy is good for the economy, good for the environment, and good for farmers.  That’s why we need to do more to encourage the development of Iowa’s wind energy industry. 

“My Clean Energy Investment Act will help boost the wind energy industry in Iowa.  It will create stability and predictability in the wind energy marketplace so wind energy producers can invest more freely in production and the latest technology.”

Braley’s Clean Energy Investment Act of 2008 would extend the Wind Energy Production Tax Credit for seven years, providing wind energy producers with the incentive to expand production of wind energy.

Iowa’s wind energy production currently ranks fourth in the nation.  However, Iowa has a great untapped capacity to expand wind energy production: according to the American Wind Energy Association, Iowa could produce over 62,000 megawatts of wind-generated electricity, but is currently producing only 1,273 megawatts (one megawatt can power about 250 homes).

Historically, the credit has been extended in one- and two-year increments.  This approach, however, makes it difficult for producers to predict the nature of the wind energy marketplace since there is no guarantee that Congress will extend the tax credit.