|Wind tax credit could take a big hit in tax battle
By: Andrew Restuccia
November 4, 2013 05:04 AM EST
As Congress works on a tax reform package that could take months to complete, it’s looking increasingly likely that the production tax credit, a key wind industry lifeline, will expire shortly after the end of the year — at least temporarily.
That expiration could hurt the wind industry, which saw construction of new wind projects grind to a virtual halt this year amid uncertainty over the subsidy. The production tax credit gives wind power owners a tax credit of 2.3 cents for each kilowatt-hour of electricity they produce.
One Senate aide said tax writers in Congress aren’t even talking about a year-end extenders package, which traditionally allows for the continuation of credits like the PTC. Without an extenders package, PTC supporters must pin their hopes on reviving the tax credit as part of broader tax reform, which isn’t expected to move until next year, if at all. Click for full article.