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IRS boosts wind PTC
Credit: By ALEX GUILLEN | 04/04/13 | Politico | www.politico.com ~~
Translate: FROM English | TO English
Translate: FROM English | TO English
What’s a tenth of a cent among friends? Wind energy is getting a boost – a small one – for its top industry tax credit. The IRS on Wednesday said that it is increasing the amount developers of wind and some other renewable projects can get via the production tax credit. The credit was set at 1.5 cents per kilowatt-hour in 1993 dollars and was indexed to inflation; the IRS has regularly updated the credit since then. Wind, geothermal and closed-loop biomass projects will now get 2.3 cents per kilowatt-hour of electricity produced, up from 2.2 cents. Electricity produced from open-loop biomass, small irrigation power, landfill gas, trash combustion, some hydropower, and marine and hydrokinetic renewable energy will continue to get 1.1 cent per kilowatt-hour. The Federal Register notice: http://1.usa.gov/ZArJ6k
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