Harnessing our homegrown power
At a time when rural America faces economic struggles, the state of Oklahoma has been able to make sure that we have policies that continue to encourage investment in the state.
“If you don’t like the weather in Oklahoma, wait a minute and it’ll change.” — Will Rogers
Ithink all Oklahomans can attest to the truth of this famous quote from our state’s favorite son. The weather is as much a part of our story as the generations of hard-working people who built our communities. And while we’ve seen the harsh realities of what our weather can produce, the temperamental winds of Oklahoma have also breathed new life into our economy and rural communities.
During the past several years, Oklahoma has become a leader in the wind industry. We rank third nationwide for installed wind capacity and generation. In 2016, Oklahoma generated enough electricity to power 1.8 million
U.S. houses — that’s almost half of our state’s population. And recently, Enel Green Power North America (EGPNA) announced the start of operations of even more wind energy with a 300-megawatt wind project, appropriately named Red Dirt.
Built without the use of wind-specific state incentives, Red Dirt represents the impact policymakers and businesses can make when we work together. For two counties in my district, Kingfisher and Logan, this represents a $420 million investment. Additionally, EGP-NA is projected to pay more than $30 million in property taxes over the lifetime of the project, in part due to the end of the wind industry’s five-year property tax exemption that many major manufacturing facilities in Oklahoma receive for developing new projects.
Last year, the wind industry worked with the Legislature to bring to a close its only remaining incentive — the zeroemission tax credit. At the time, EGP-NA had already broken ground on Red Dirt. However, despite the take-back of this incentive by the state, the company decided to continue moving forward with the project and honor its commitment to our local communities.
EGP-NA’s combined projects in Oklahoma represent more than a $2.7 billion investment in the state and approximately $182 million in property taxes paid to local communities. Industry-wide, wind will contribute more than $3.3 billion in ad valorem tax payments throughout the state through 2043, benefiting critical local services.
Increased tax revenue means more reliable funding for local institutions and schools. With an expanded budget, schools can invest in quality resources and technology, giving each child the opportunity to reach their full potential. At a time when rural America faces economic struggles, the state of Oklahoma has been able to make sure that we have policies that continue to encourage investment in the state.
As Oklahomans, our deep connection to the land has defined our livelihood and shaped our spirit. Our state is rich in diverse energy resources. By harnessing them, we can continue leading the country in energy production, which includes abundant, affordable wind power.