2023-01-30
http://w3.windfair.net/wind-energy/pr/12418-this-week-production-tax-credit-passes

News Release from American Clean Power Association (ACP)

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Wind Industry Profile of


This week: Production Tax Credit Passes

After a long, hard-fought

campaign, we have wonderful news: Minutes ago, Congress included the extension of wind energy tax credits that we have long sought in the final deal to avert the "fiscal cliff," which now moves to President Obama for his signature.


Importantly, the version of the PTC and ITC extension included in today's legislation would cover all wind projects that start construction in 2013. That allows for projects completed beyond 2013 to qualify for the credit, a critical change that the Senate Finance Committee made specifically in order to accommodate the business timelines of our industry. The bill also includes bonus depreciation, which is beneficial as well. And thanks to the constant efforts of AWEA members like you, it remained intact all the way to final passage tonight.

Together we can celebrate the renewal of this important federal policy. It will provide continuous tax relief to U.S. wind farms built in 2013, 2014 and beyond, so long as they start construction this year; support the continued manufacture of wind turbines and components in America, drive the continued growth of an industry that installed the most electrical generating capacity in America last year  and support offshore and community wind as well as land-based projects. Wind set a new record in 2012 by installing 44 percent of all new electrical generating capacity in America, according to the Energy Information Administration, leading the electricity sector versus 30 percent for natural gas and lesser amounts for coal and other sources.

And yet, all of us who work in wind energy have been living under threat of the PTC's expiration for over a year. We know that layoffs had already begun in many companies. Factories have had to deal with a lack of orders for 2013. Uncertain federal policies have caused a "boom-bust" cycle in the wind industry for over a decade.

In response, you sent delegations to Washington to lobby for the PTC in person. You wrote hundreds of thousands of emails and letters to your own members of Congress. You invited them on tours of your wind projects and factories. You made videos and signed letters to the editor and op-eds with your stories when we asked.

And now, we have achieved the goal of our campaign.

We can tell you that this moment literally would never have happened without the constant and active involvement of AWEA members.

Now it is our task and our privilege to keep providing America with more clean, affordable, homegrown energy, and tens of thousands of jobs, soon to be hundreds of thousands. The long-term fundamentals for our industry have always been strong. Now we will show America what we can do.


AWEA as always will be well-positioned in 2013 to continue to supply your organization with business solutions and the support, direction, and advocacy to strengthen your position in this important energy industry.
Source:
American Wind Energy Association (AWEA)
Email:
windmail@awea.org
Link:
www.awea.org/...



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