Likely Expiration of PTC Only Part of Wind Industry's Bouncing Fortunes
SUGAR LAND--July 23, 2012--Researched by Industrial Info Resources (Sugar Land, Texas)--The Federal Production Tax Credit (PTC) is set to expire at the end of this year. The tax credit gives wind power generators $22 for every megawatt hour they produce. Congress has renewed the credit seven times and let it expire three times since it was enacted in 1992. The American Wind Energy Association (AWEA) calculated that each year after the PTC expired, turbine installations dropped between 73 % and 93%. AWEA also says that this expiration, if it happens, will mean renewable energy producers will lose an estimated 37,000 jobs as a direct result.