Wind Industry Fights to Save Tax Credit Before Its Expiration Date
Advocates scrambling to extend subsidies for renewable energy have wind back in their sails after the re-election of President Barack Obama and Congress’ return to Washington.
The renewable energy production tax credit (PTC) gives wind power producers an income tax credit of 2.2 cents for every kilowatt-hour. Without it, wind energy can be too expensive to produce, so most new wind projects have been put on hold until companies know whether the PTC — which is set to expire at the end of the year — will be extended.
“We think we have the bipartisan support to get this done,” said Ellen Carey, spokesperson for the American Wind Energy Association. “We need to prevent the loss of 37,000 jobs, and an