Newly signed Act extends wind energy credits in the US

Newly signed Act extends wind energy credits in the US

wind energy

On December 18th, President Obama signed the Consolidated Appropriations Act which includes an extension of wind energy credits (and other renewables).
With the Production Tax Credit (PTC) extended, the industry will attract billions of dollars in investments over the next few years. This time around the credit include multi-year plans, providing percentages of the value of the credit depending on the year projects begin construction: 100% credit in 2015 and 2016, 80% in 2017, 60% in 2018, and 40% in 2019.
The CEO of the American Wind Energy Association (AWEA), Tom Kiernan said:
“We’re going to keep this American wind power success story going,”
“With predictable policies now in place, we will continue advancing wind turbine technology, driving down our costs and passing the savings on to American families and businesses in all corners of the country. We look forward to building a future with more affordable, reliable, clean wind energy.”
The executive director of the Newton Development Corporation, Frank Liebl said:
“The wind industry did receive good news about the production tax credits,”
“I was notified by the American Wind Energy Association that the president signed the bill. The NDC has worked with AWEA for years. Whenever they need a letter or an e-mail from us, we send it immediately to both the Senate and House, so to see the wind energy finally got better than a ‘year’ of PTC credits is indeed good news.”

Posted By Sally on December 31, 2015 | 0 Comment

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