Wind Production Tax Credit Not Renewed for 2014
The federal wind production tax credit had spurred the growth of more than 12,000 megawatts of new wind power in 2012. However, the lack of the tax credit in 2014 has stalled the industry. This year, a coalition of Republicans and conservative Democrats, many backed by the fossil fuel industry, prevented the renewal of the wind energy tax credit. The wind industry counters that the cost of wind energy production is all up front. To build and install a wind turbine can be as much as $4 million each, and also requires transmission lines, utility poles, and transformers to bring the power to market, but once the investment is made, there are no more costs associated with getting the wind to market. To read more, see http://www.usnews.com/news/articles/2014/07/17/dead-air-end-to-tax-credits-takes-big-bite-out-of-wind-power.
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