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After seeing the Production Tax Credit (PTC) extended through 2013 in the recent “fiscal cliff” legislation, the wind industry is now looking ahead to the tax reform debate. According to E&E Publishing several industry lobbyists are preparing for a renewed push for a longer-term extension of the PTC that would phase out over time. Based on industry analysis of the impact of the PTC, the American Wind Energy Association proposed a six-year tax credit phaseout, which specifies that “The tax credit would start at 100% of the current 2.2 cents a kilowatt-hour for projects started in 2013, and be phased… [more]
View InsightThe production tax credit (PTC) for wind energy is currently set to expire December 31st, 2012. The credit is currently 2.2¢ per kWh created by wind. The average price of electricity nationwide is 11¢ per kWh. A study released recently by the American Wind Energy Association (AWEA) states that without an immediate PTC program extension, wind energy “jobs will drop by nearly half, from 78,000 in 2012 to 41,000 in 2013.” According to the report, an extension of the program through 2016 could create nearly 17,000 wind industry jobs. Denise Bode, AWEA’s CEO, has stated that “these jobs could vanish if Congress allows… [more]
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