Production Wind Credit Renewed

Congress passed the production wind credit which will encourage the development of more wind turbines.

Lovers of wind turbines everywhere rejoice!  

The Production Wind Credit was renewed for 2013 as part of the fiscal cliff negotiations.

This means that turbines completed in 2013 will receive the same tax break of 2.2 cents for every kWh produced that turbines have been receiving in recent years.

Forbes has a succinct article where you can read more.

Unfortunately, those of us who work closely with the industry know that you have to plan and develop a wind project for more than a year, so unless projects were already underway in development, it is unlikely that new ones will spring up quickly.  In fact, because no one had confidence that this would pass, many companies that build and design wind turbines have already cut down production and laid off workers. In order for this tax credit to really spur the industry, it has to be guaranteed for at least 2 years, and longer would be better.

Energy Secretary Chu did a townhall format conversation that was broadcast on the web and recorded about the future of the wind industry.  You can see the recording on YouTube.

While this will not have any effect on the Medford wind turbine, we often speak with people who are interested in building wind turbines and they often look at what we did for information. 

This is re-posted from Green Lifestyle Changes, Alicia's green living blog.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.


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