AWEA hails PTC extension as part of 'fiscal cliff' package

Outgoing AWEA CEO Denise Bode

Outgoing AWEA CEO Denise Bode

The American Wind Energy Association (AWEA) says a one-year extension to the industry’s key federal tax credit is cause for New Year celebrations among the sector’s 75,000 US workers.

As part of a package to avoid the US economy falling off the so-called “fiscal cliff”, Congress approved an extension of the wind energy Production Tax Credit (PTC) and Investment Tax Credits (ITC) for community and offshore projects.

It was part of a “tax-extender" package drawn up last summer and included in the fiscal cliff deal, which after days of tense political haggling now just needs the formality of a signature from President Obama.

The version included in the deal will cover all wind projects that start construction in 2013, says AWEA. “Companies Log in to read complete article.

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