U.S. Wind Production Tax Credit Extended, Industry Breathes Sigh of Relief – For Now

At the end of 2001, the U.S. wind energy Production Tax Credit (PTC) expired and the industry went into hibernation. In March, after significant lobbying by the American Wind Energy Association, Congress passed and President George W. Bush signed, a two-year extension of the PTC once again reviving the wind power industry. Although the PTC is in place through 2003, some companies are already feeling the negative effects of Congress’ failure this fall to extend the credit through 2006. This will be an important story again in 2003 as the industry holds its breath waiting for what some say is the inevitable extension of the credit and some level of sustainability in the industry.

Key relatedstories from 2002: Wind Energy Tax Credit Ends in United States – 1/11/2002 Partisan differences between political parties in the United States means that the wind energy production tax credit expired on December 31 without being extended. Wind Energy Tax Credit Extended for Two Years – 3/14/2002 The wind energy Production Tax Credit (PTC), considered vital by the United States wind energy industry for continued growth, has been extended for two years as part of an economic stimulus package recently approved by both houses of Congress and signed by President George W. Bush. AWEA Encouraged by PTC Extension – 5/1/2002 The American Wind Energy Association (AWEA) applauded the passage by the U.S. Senate of a federal Renewable Energy portfolio standard (“renewables portfolio standard,” or RPS) and a full five-year extension of the wind energy production tax credit (PTC) as part of the broad energy bill, S. 517. The bill also would create a new investment tax credit for small wind systems used to power homes, farms, and small business.
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