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

HPS EnduraCoilTM Cast Resin Medium Voltage Transformer

HPS EnduraCoilTM Cast Resin Medium Voltage Transformer

HPS EnduraCoil is a high-performance cast resin transformer designed for many demanding and diverse applications while minimizing both installation and maintenance costs. Coils are formed with mineral-filled epoxy, reinforced with fiberglass and cast to provide complete void-free resin impregnation throughout the entire insulation system. HPS EnduraCoil complies with the new NRCan 2019 and DOE 2016 efficiency regulations and is approved by both UL and CSA standards. It is also seismic qualified per IBC 2012/ASCE 7-10/CBC 2013. Cast resin transformers are self-extinguishing in the unlikely event of fire, environmentally friendly and offer greater resistance to short circuits. HPS also offers wide range of accessories for transformer protection and monitoring requirements.