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.