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Fiscal Cliff Deal Extends U.S. Wind Power Tax Credits

Congress has included the long-sought extension of wind energy tax credits in the final passage of a bill to avert the “fiscal cliff.” The bill now moves to President Obama for his expected signature.

| 01/03/2013

The following news release was provided on Jan. 1, 2013, by the American Wind Energy Association.

The United States’ 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 the United States last year, with factories or wind farms in all 50 states.

The version included in the 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.

Leaders of the Senate Finance Committee included that version in a “tax extenders” package they assembled in August, which made it into the overall fiscal cliff deal that passed the Senate early Jan. 1 morning and passed in the House that night. The bill is expected to be swiftly signed into law by President Obama, who consistently supported the wind energy tax credits throughout the process.



Wind set a new record in 2012 by installing 44 percent of all new electrical generating capacity in America, according to the Energy Information Administration, leading the electric sector compared with 30 percent for natural gas, and lesser amounts for coal and other sources.

However, America’s wind energy workers have been living under threat of the PTC’s expiration for over a year and layoffs had already begun, as companies idled factories because of a lack of orders for 2013. Uncertain federal policies have caused a “boom-bust” cycle in U.S. wind energy development for over a decade.






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