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Congress Extends Wind Energy Federal Tax Credits For All 2013 Wind Power Projects
As 2012 came to a close, many US energy companies were rushing to install last-minute wind turbines before the federal tax credit incentive expired at the stroke of midnight. However in a surprise move, Congress passed an extension of wind energy tax credits in the ‘fiscal cliff deal. According to the American Wind Energy Association, the move will save 37,000 jobs and create far more over time.
It is a fantastic move on the part of Congress, as the extension of the wind energy production tax credit (PTC), and investment tax credits for community and offshore projects will allow continued growth of the energy source that accounted for the most new electrical generating capacity in America last year.
The bill is expected to be swiftly signed into law by President Obama, who consistently supported the wind energy tax credits throughout the process. It is hoped that 2013 will see new records as wind energy is expected to make up 44% of all new electrical generating capacity in America.
In a recent study by Navigant Consulting, it was reported that half the American jobs in wind energy – 37,000 out of 75,000 – and hundreds of U.S. factories in the supply chain would have suffered if the PTC were allowed to expire. However in the last few days of 2012 many of America’s wind energy workers posted videos to tell their stories of working in the new industry.
Over 2,000 companies of the AWEA also sent delegations to Capitol Hill repeatedly, invited members of congress on tours of wind farms and factories, and delivered hundreds of thousands of letters from constituents. “On behalf of all the people working in wind energy manufacturing facilities, their families, and all the communities that benefit, we thank President Obama and all the members of the House and Senate who had the foresight to extend this successful policy, so wind projects can continue to be developed in 2013 and 2014,” said Denise Bode, CEO of AWEA.
Via Denver Post
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