PTC Renewal: Which Way Will The Political Winds Blow?
March 22, 2012, 1:38 PM EDT
Law360, New York (March 22, 2012, 1:38 PM EDT) -- The primary federal support for the wind energy industry, a 2.2-cent-per-kWh (kilowatt hour) production tax credit (PTC), is scheduled to expire at year end. As a result, there will be a rush to complete new wind farm installations in 2012 and very little capital spent on projects that cannot be finished by Dec. 31, 2012. Without the PTC, wind installations will decline dramatically.
The effort to renew the PTC as part of February’s payroll tax cut extension failed, as did a March 14, 2012, U.S. Senate...