NewEnergyNews: HISTORIC WIN FOR WIND IN FISCAL CLIFF DEAL

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    Friday, January 04, 2013

    HISTORIC WIN FOR WIND IN FISCAL CLIFF DEAL

    Congress extends wind energy tax credits for projects that start in 2013; “Fiscal cliff” deal preserves America’s leading source of new electric generation

    January 1, 2013 (American Wind Energy Association)

    “Congress has included the long-sought extension of wind energy tax credits in final passage of a bill to avert the "fiscal cliff" that now moves to President Obama for his expected signature…[T]he continuation of policies [is] expected to save up to 37,000 jobs and create far more over time, and to revive business at nearly 500 manufacturing facilities across the country…

    “…The extension of the wind energy Production Tax Credit (PTC), and Investment Tax Credits for community and offshore projects, will allow continued growth [in the U.S. and around the world] of the energy source that installed the most new electrical generating capacity in America last year…The version included in [the] deal would cover all wind projects that start construction in 2013. Companies that manufacture wind turbines and install them sought that definition to allow for the 18-24 months it takes to develop a new wind farm…”

    “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 electric sector compared with 30 percent for natural gas, and lesser amounts for coal and other sources…Uncertain federal policies have caused a "boom-bust" cycle in U.S. wind energy development for over a decade…Half the [75,000] American jobs in wind energy…and hundreds of U.S. factories in the supply chain would have been at stake had the PTC been allowed to expire…”

    [Rob Gramlich, Interim CEO, AWEA:] "Now we can continue to provide America with more clean, affordable, homegrown energy, and keep growing a new manufacturing sector that's now making nearly 70 percent of our wind turbines in the U.S.A…"

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