Protect Wind Protection Tax Credit to Protect Industry

We wrote back in August about the Wind Protection Tax Credit, calling on Congress to extend the credit in order to preserve jobs and maintain the pace for wind energy installations and products. Fortunately, Congress agreed to a one year extension in early 2013, and we can now look to the future of the wind industry and ensure an ongoing investment in domestic clean energy production and American manufacturing. We know that wind energy is critical to American jobs and to American’s energy future, but the debate on the wind energy tax credit is far from over.

As CleanTechnica’s Tina Casey reports, the House Oversight and Government Reform Committee’s Energy Policy, Health Care and Entitlements Subcommittee plans to challenge this extension. Representatives Darrell Issa and James Lankford have raised issue with the language in the new tax credit, which allows the credit apply to any project, whether completed or not, that started within the timeframe.

It’s important to underscore again, given the debate and potentially detrimental effects an investigation could have on new projects, the positive effect the extension of the tax credit has had on the wind industry. This one year extension will make a big difference. Developers will start projects this year to take advantage of the credit, and it’s estimated that the wind industry could build between 5,000 and 6,000 MW per year until 2020, which will make wind an increasingly important source of U.S. energy. And, as the Department of Energy underscores, wind energy is critical to the American economy and jobs: “The recent extension of the Production Tax Credit is also helping the wind industry continue to surge forward…Now, instead of layoffs, we’re hearing stories from American wind companies that are retaining and re-hiring workers instead of moving business overseas.”

What are your thoughts? Tweet us at @Ioxus to let us know!

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