Planet Gore

Cliff Deal Extends Wind Tax Credit for One Year

The American Wind Energy Association, a lobbying group, is very happy the “cliff” deal extends the tax credit on wind energy for another 12 months:

WASHINGTON, D.C., January 1, 2013 – Congress has included the long-sought extension of wind energy tax credits in final passage of a bill to avert the “fiscal cliff” that now moves to President Obama for his expected signature.

America’s 75,000 workers in wind energy are celebrating tonight over the continuation of policies expected to save up to 37,000 jobs and create far more over time, and to revive business at nearly 500 manufacturing facilities across the country. 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 installed the most new electrical generating capacity in America last year, with factories or wind farms in all 50 states.

The version included in tonight’s deal would cover all wind projects that start construction in 2013. Companies that manufacture wind turbines and install them sought that definition to allow for the 18-24 months it takes to develop a new wind farm.

The rest of their release here.

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