Well, the country didn’t go off the fiscal cliff, at least not quite yet. Along with preserving some middle-class tax cuts in its mad scramble this week to close a deal, Congress extended $77billion in corporate tax breaks – including the wind energy production tax credit that was set to go out with the old year.
Analysts predict the one-year extension will restore a lot of production jobs out West, where uncertainty about the tax credit had stopped new orders for wind turbines. And the impact here in the Roanoke Valley? Too early to tell.
In November, Invenergy said it had delayed plans to build 15to 18industrial-sized windmills on Poor Mountain, citing uncertainty about federal incentives. Friday, the company said it was reviewing the new legislation and “determining our business strategy for a number of our proposed projects … And so with regard to our plans in Roanoke County, a specific project timeline continues to evolve, based on changing power market conditions. We look forward to announcing further developments in the near future.” A future uncertain.
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