91ÊÓƵ

Capital investment in Oregon wind, solar, and geothermal energy will top $5.4 billion this year, according to Renewable Northwest Project, a nonprofit advocacy organization based in Portland.

$4.5 billion of that number comes from the wind energy sector, where 2,374 megawatts of wind energy are operating or under construction throughout the state. Multiply 2,374 by a “conservative estimate” of $1,900 of installed cost per kilowatt hour, and you get $4.5 million. Another $632 million of the total estimate comes from the solar manufacturing industry.

This announcement comes at a time when renewable businesses are lobbying for the continuation of the Business Energy Tax Credit, which is set to sunset in 2012. “Those working in the industry are extremely concerned that it might disappear,” said Robert Grott, Executive Director of the Northwest Environmental Business Council.

The main point against the tax credit is its cost and the lack of solid job creation numbers for the program.

“The original purpose of the BETC was to encourage energy conservation and the use of renewable resources to meet the state’s energy requirements. It was also tied to concerns over climate change and greenhouse gas emissions. Over time it became a tool for economic development and job creation. Since it wasn’t originally designed as a jobs creation tool, the Department of Energy never collected that information,” Grott said.

Now the renewable energy industry is trying to collect those numbers. At today’s press conference, John Moholis, executive secretary of the Oregon State Building and Construction Trades Council said that in tough economic times, “jobs in renewable energy have literally been a godsend for us.”

The Business Energy Tax Credit is currently under review by the joint committee on tax credits. From there, it will go to the state revenue committee.