With an industry tax credit in jeopardy and new projects at a virtual standstill in the U.S., you might have expected the wind industry to come limping into RETECH2012. Instead, the audience heard from a sector that’s honing in on what it can control -- namely cost reductions and innovation.
“We haven’t placed any orders for turbines for 2013,” said First Wind’s Julia Bovey in the opening remarks. That’s been the norm in 2012 for wind developers and turbine manufacturers as utilities and power purchasers have adopted a wait-and-see approach when it comes to the Production Tax Credit (PTC).
May 29 -- It was terrific to see the attention Tom Keane paid to the all-electric Tesla in the May 21 op-ed “An electrifying ride.” The article noted that electric cars emit no tailpipe emissions, far fewer greenhouse gas emissions, and are eligible for a $7,500 tax credit from the federal government. The transportation sector contributes more than a third of greenhouse emissions in the Commonwealth, and emissions from this sector are growing faster than any other. While we must do more to encourage people to walk and bike and take public transit, the fact is that people will continue to drive. So, we must ensure that those vehicles are as clean as possible. Electric vehicles fit the bill. >>View Article
May 7 -- General Electric Co (GE.N) said on Monday the renewal of the U.S. production tax credit has helped it sell wind turbines with 1 gigawatt of generating power since January. >>View Article
May 7 -- The U.S. wind-power industry is expecting a tough battle in Congress as it seeks another extension of a federal tax credit that received a one-year renewal at the last minute in January. >>View Article
April 16 -- The Internal Revenue Service completed rules today that define how wind-farm developers can qualify for tax breaks. Under a law signed by President Barack Obama in January, wind projects must begin construction by Dec. 31 to qualify for the production tax credit. That’s looser than the standard from previous years, which required energy production to qualify. >>View Article
December 31 -- Key federal incentives for wind power are set to expire today as fiscal cliff negotiations stretch into the final hours of 2012. The production tax credit provides a 2.2-cent tax break for every kilowatt-hour of electricity produced from large-scale wind farms. >>View Article