Tax credit moves wind industry to ramp up construction plans

Several wind manufacturers already are reporting projects ready for construction in 2013, just days after Congress extended the renewable energy production tax credit, an industry group said Friday.

Many projects had been put on hold in 2012 because a production tax credit, which gives wind developers a 2.2-cent tax break for every kilowatt-hour of energy produced, was due to expire at the end of the year. Uncertainty over its extension led many wind developers to delay projects until they were certain that the tax break would be available in 2013, according to the American Wind Energy Association.

“The wind industry has been reinvigorated by this much-needed signal from congressional leaders,” said Rob Gramlich, interim CEO of the American Wind Energy Association, in a written statement. “Billions of dollars of investment sat idled by uncertainty that now can flow into new wind projects and our manufacturing sector. Congress has sent the necessary signal in extending the PTC and many are able to move ahead—and America’s energy consumers, manufacturing sector, and working families are the winners.”

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Darfon G320 Microinverter

Darfon G320 Microinverter

The Darfon G320 is the microinverter solution for today's high-power solar modules. The G320 handles 60- and 72-cell modules up to 350W DC and outputs up to 300W AC. The G320's 3-phase configuration accommodates the electrical distribution systems of most commercial buildings and to reduce, if not eliminate, the need for expensive transformers. The G320 comes in four voltage/phase configurations, so it can be installed in residential, commercial or utility applications.