TAG: Production credit

Wind Tax Credit Extended

Wind tax credits extended

As part of the midnight deal resolving some of the tax issues dubbed the “fiscal cliff,” Congress extended the wind energy production tax credit (PTC) for one year. More importantly, the bill’s tax extenders package granted the $0.022 per kilowatt-hour tax credit to the electricity wind projects generate over the first ten years of their production service to wind farms which are “under construction” by the end of 2013. The same debate will have to happen in a year, but the wind industry could definitely utilize the extra time. This is a critical change from the previous language in the PTC… read more