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IRS boosts wind PTC  

Credit:  By ALEX GUILLEN | 04/04/13 | Politico | www.politico.com ~~

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

Source:  By ALEX GUILLEN | 04/04/13 | Politico | www.politico.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments to query/wind-watch.org.

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