WIND DEVELOPERS SPRINT TO BEAT PTC DEADLINE

Wind Power Developers Race Clock to Secure Subsidy

Diane Cardwell and Mattew L. Wald, December 25, 2013 (NY Times)

“As the rest of the world prepares to toast the new year, the wind industry is hard at work on its own year-end tradition…Developers are signing deals, ordering equipment and lurching ahead with construction starts to qualify for a tax credit that is worth 2.3 cents a kilowatt-hour for the first 10 years of production. This month, giant turbine-makers like Vestas andSiemens have announced major new orders, including a deal worth more than $1 billion with MidAmerican Energy, an Iowa-based utility majority-owned by Warren E. Buffett’s Berkshire Hathaway, and another with the Cape Wind project in Nantucket Sound…In previous years, the projects had to be in commercial operation by New Year’s Eve. This year, they need only have begun…Though the wind industry has grown enormously since the tax credit began in the 1990s, it has followed a boom-and-bust cycle driven by the fate of the subsidy…” click here for more

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