A 2-cent per megawatt hour production tax credit (PTC) for wind energy has been excluded from the Payroll Tax bill in congress, creating some uncertainty as to whether the credit will be extended before it expires at year end.
“It looks like we’re not going to succeed, despite a valiant effort, as we see the legislation dealing with these tax extenders very narrowly focused,” said Todd Foley, senior vice president for policy & government relations, American Council on Renewable Energy.
Iowa employs about 2,000 workers in the production of wind turbines and towers, and the loss of the PTC could threaten those jobs. However, MidAmerican Energy’s upcoming 407 megawatt wind complex in Adair, Calhoun and Marshall counties will be completed in time to utilize the tax credit before it expires.
“We’ve done some market analysis and there is a cliff, especially for wind after March,” Foley said. “Our research shows there may be a 52 percent decline because of this uncertainty.”
For more information, read the full article at the Des Moines Register.