Wind Production Tax Credit extended

Photo by kendoman26, Flickr.
Photo by kendoman26, Flickr.

The U.S. Senate approved a fiscal cliff budget package early Tuesday morning that would provide a one-year extension to the wind production tax credit.

If the U.S. House approves the deal, the tax credit would extend until the end of 2013 and include projects that begin construction this year.

“Overall, this is very, very good news for the wind industry and I think it will help us out,” said Harold Prior of Milford, executive director of the Iowa Wind Energy Association. Because projects begun this year will be eligible for the tax credit, the Senate’s provisions are basically a two-year extension because the work can be completed in 2014, he added.

For more information, read the full article at the Des Moines Register.

Obama to discuss wind energy tax credits in Newton

Photo by TushyD, Flickr.

President Barack Obama will visit a wind turbine blade manufacturer in Newton, Iowa today to promote two wind energy tax credits that are set to expire at the end of 2012.

The president intends to warn Iowans that the loss of the Production Tax Credit and the Advanced Energy Manufacturing Credit will hurt Iowa’s economy.

“This isn’t guesswork,” said Heather Zichal, deputy assistant to the president for energy policy. “We know from the past that when these credits lapse, orders for wind turbines slow, installations drop and job losses occur.”

For more information on President Obama’s visit, read the full article at the Des Moines Register.