k. even if the ptc doesn't pass this year it will in the next congress and whoever is the
next president will sign it. it will also probably be a better bill. mike

Looking at the Renewable Energy and Job Creation Act which contains the extension of the
Production Tax Credits for the Wind Industry Notes....RPS Notes as well

*I'm trying to find out the probability of the bill passing the senate and the immense
impacts it offers for the wind industry
*Analyzing the Bill that maybe the greatest catalyst to the wind industry found below:
http://waysandmeans.house.gov/media/pdf/110/bill.pdf

Notes-
a. Summary: H.R. 6049, the Renewable Energy and Job Creation Act of 2008, will provide
approximately $18 billion of tax incentives for investment in renewable energy, carbon
capture
and sequestration demonstration projects, energy efficiency and conservation. The bill
will also
extends $27 billion of expiring temporary tax provisions, including the research and
development
credit, special rules for active financing income, the State and local sales tax
deduction, the
deduction for out-of-pocket expenses for teachers, and the deduction for qualified
tuition
expenses. In addition, the bill provides almost $10 billion of additional tax relief for
individuals
through an expansion of the refundable child tax credit and a new standard deduction for
property taxes. The bill would be primarily offset by closing a tax loophole that allows
individuals that work for certain offshore corporations, such as hedge fund managers, to
defer tax
on their compensation and would delay the effective date of a tax benefit that has not yet
taken
effect for multinational corporations operating overseas.

b.Long-term extension and modification of renewable energy production tax credit. The
bill
extends the placed-in-service date for wind facilities for one year (through December 31,
2009).
The bill would also extend the placed-in-service date for three years (through December
31,
2011) for certain other qualifying facilities: closed-loop biomass; open-loop biomass;
geothermal; small irrigation; hydropower; landfill gas; and waste-to-energy facilities.

c.Long-term extension and modification of solar energy and fuel cell investment tax
credit.
The bill extends the 30% investment tax credit for solar energy property and qualified
fuel cell
property and the 10% investment tax credit for microturbines for six years


..Rest of the bill is unnecessary for discussion


RPS

1. Granholm: RPS offers opportunity-June 5th,2008

a.The future of Michigan's alternative energy industry is tied to the state Legislature's
willingness to approve a renewable portfolio standard, Gov. Jennifer Granholm said at the
Mackinac Policy Conference.
b.The proposal in the Legislature would require utility companies to get 10 percent of
their electricity from renewable sources by 2015 - which Granholm said she would accept.
c. RPS can generate jobs

2. Obama supports renewable portfolio standards - June 5th, 2008
a.By 2025, Obama would like 25% of U.S. electricity to be generated from clean, renewable
sources including wind, solar and geothermal with a Renewable Portfolio Standard. Obama
calls for $150 billion to be invested over 10 years in clean energy and infrastructure to
support it. Investment in a national digital electric grid would allow greater amounts of
renewable energy to be utilized and make plug-in hybrids more environmentally sound.

3. New play found WNDEF - WESTERN WIND ANNOUNCES THE STATUS OF ITS VARIOUS PROJECTS
ANDFINANCING ARRANGEMENTS
a.In its Stockwatch news release on Oct. 1, 2007, Western Wind reported that it "has a
credible pipeline ofover 1,300 megawatts of site locations in the state of California."
Western Wind has identifiedmany sites throughout California that could produce up to 1,300
MW based on the level of windresource available. The company has purchased or leased over
6,500 acres in California to date.
b.In its May 21, 2008, news release in Stockwatch, Western Wind announced that, although
it had received anoffer of $228-million to purchase the Windstar assets, Western Wind was
still reviewing otheroptions. The $228-million offer to purchase Western Wind's Windstar
project assets is based ona $36-million upfront payment on the commencement of
construction and the balance of $192-million, payable over the 30-year life of the lease,
based on the value of a 7-per-cent gross annualroyalty from payments on the land, which
would be retained by Western Wind and back-endbonus payments based on a confidential
formula.


Kabir M Thoughts so far on the industry-
1. were seeing a 1 year PTC extension which is simply not enough
2. were seeing the senate have funding issues
3. Were seeing recognized interest though in renewables here
4. the PTC was recently attached on the bill so were seeing active interest in the wind
industry at a federal level