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January 3rd, 2013

Wind Power Avoids Fiscal Cliff ‚?? Production Tax Credit Extended

by Andrew Price, President & COO

Although it received very little attention outside of the wind industry, an extension of the production tax credit (PTC) for wind power was included in the American Taxpayer Relief Act of 2012, the last minute legislation that was signed into law by President Obama on January 2nd, to avoid the fiscal cliff. The PTC is worth 2.2 cents for every kWh produced by a wind turbine for the first 10 years of operation. Although the cost to produce electricity with wind has fallen as turbines have gotten larger and the number of manufactures expanded, the PTC is still necessary for most wind projects to be economically feasible.

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