The Renewable Energy Production Incentive (REPI) provides financial incentive payments for electricity produced and sold by new qualifying renewable energy (including wind) generation facilities. Eligible electric production facilities are those owned by state and local government entities (such as municipal utilities) and not-for-profit electric cooperatives. Qualifying facilities are eligible for annual incentive payments of 1.5 cents per kilowatt-hour for the first ten-year period of their operation. This incentive is not considered bankable since it must be appropriated each year by Congress. This incentive expired September 30, 2003 but was reauthorized for 2006-2026 by the Energy Policy Act of 2005.