IN DEPTH: Wait begins over PTC

The US wind industry now must wait for Congress to reconvene later this month to see if lawmakers will renew the production tax credit (PTC) that expired at midnight on Tuesday.

President Barack Obama supports an extension as does most of his party, which has a majority in the Senate. Opposition Republicans, which control the House of Representatives, are divided over the issue.

Most wind farms and manufacturing plants that supply the industry are located in congressional districts held by Republicans.

The PTC is worth 2.3 cents per kWh, inflation-adjusted for a project’s first decade in operation. It is the main fiscal incentive that has underpinned impressive cumulative wind capacity growth in the past decade.  

Uncertainty over whether Congress will extend the subsidy at Log in to read complete article.

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