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New Tax Credit Timeline Will Give Wind Industry A Leg Up

Law360, New York (September 23, 2013, 7:16 PM EDT) -- The Internal Revenue Service said Friday that renewable energy projects that are up and running by the end of 2015 won't need additional reviews to qualify for popular tax credits, providing some much needed certainty on the incentive that will particularly boost wind project developers' efforts to secure financing from skittish investors, experts say.

Clarifying April guidance in which it stated that certain renewable energy projects would be eligible in 2014 for the production tax credit — or alternatively, the energy investment tax credit — if developers start significant physical construction work this year or spend more than 5 percent of the project's...

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