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Production tax credit

1 byte added, 12:46, 24 August 2017
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In the USA, a “production tax credit” (PTC) for industrial wind turbines was established in 1992<ref>https://www.wind-watch.org/documents/enrons-ken-lay-asks-for-texas-gov-bushs-help-in-securing-tax-credits-for-wind/</ref> and first applied to facilities built in 1993. It provided a tax credit to a facility for 10 years of 1.5 cents per kWh of electricity generated. Every year it was adjusted for inflation, rising to 2.3 cents for facilities built (or “starting construction” if they show “continuous progress” and become operational within 4 years) in 2016.<ref>http://programs.dsireusa.org/system/program/detail/734</ref>
[[File:PTC-expirationexpirations.png|thumb]]
After the initial legislation expired after 1999, the PTC was allowed to lapse for a year, as it was again after 2001 and 2003. As the wind industry lobby has noted, wind development dropped precipitously in years when the PTC was not available to help investors avoid taxes.<ref>American Wind Energy Association. 2015. “Wind Energy and the PTC”.</ref>

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