This article, from law firm Jones Day, is authored by Thomas Havens. After months of fierce lobbying by the wind power industry, a last-minute addition to the highly controversial “fiscal cliff” legislation was the fifth—and possibly last—extension of the federal production tax credit (“PTC”) for wind energy facilities. Specifically, as part of the American Taxpayer…
PTC extension: the 2013 wind challenge
This article comes from law firms Stole Rives LLP (www.stoel.com) and was written by Mr. Edward D. Einowski The wind energy industry breathed a welcomed sigh of relief as Congress enacted a one-year extension of the production tax credit (PTC) as part of the “fiscal cliff” deal. But even with a liberal “begin construction” rule…
Several studies show the PTC a good deal for everyone
This article comes from the Journalist’s Resource and was authored by Leighton W. Klein When the House of Representatives approved the Senate’s emergency “fiscal cliff” deal on New Year’s Day 2013, one of the winners was the U.S. wind-power industry. The production tax credit of $0.022/kWh was renewed, which has the effect of making wind power more competitive…
PTC beginning to pay off – RE firm portfolio to grow by 50%
Editor’s note: The recently passed PTC extension has produced a flurry of announcements regarding new wind farm projects. This is one of many. A U.S.-based renewable energy company says it hopes to increase its operating portfolio of wind projects by 50% or more after the recent extension of the federal tax credits by Congress last…
A closer look at the PTC extension, and more
This article comes from tax counselors and law firm Milbank, Tweed, Hadley & McCloy LLP The House of Representatives last night approved H.R. 8, the “American Taxpayer Relief Act of 2012” (the “Bill”), by a vote of 257-167. The Bill was approved earlier in the day by the Senate by a vote of 89-8. Still…
Congress extends PTC
Congress has included the long-sought extension of wind energy tax credits in final passage of a bill to avert the “fiscal cliff.” President Obama is expected to sign the legislation. America’s 75,000 workers in wind energy are celebrating over the continuation of policies expected to save up to 37,000 jobs and create far more over…
Wind energy alliance forms to broaden support
An ad-hoc coalition of citizens and companies will promote the wind energy industry and its role in cultivating jobs and revitalizing manufacturing has announced its launch. The Red State Renewable Alliance said its mission is simple: To tell the full story of the success of clean renewable wind energy in traditionally conservative areas of the…
A podcast: Where does the Production Tax Credit stand now?
Although Congress may have skipped town without renewing the Production Tax Credit, there is reason for optimism. For one, the credit has good bipartisan support and there is time after Congress’ recess and before the year’s end to pass the bill. Here’s what AWEA Vice President of Public Affairs, Peter Kelley, had to say on…
Wrestling with economic uncertainty
How will the business climate change over the next year or so? That’s anybody’s guess. The economic uncertainty of this era does not mean business stops, but it does mean activity moves like a soldier through a mine field – with great caution. To provide at least some guidance, because business hates uncertainty, the following…
Transformers pass severe shake (earthquake) test
The manufacturer of liquid-filled distribution transformers says its transformer designs has withstood rigorous seismic testing performed at an independent engineering testing laboratories. The testing showed that units from Pacific Crest Transformers (PCT) are suitable for mission critical applications, including hospitals, command centers, and generation stations. The same transformer was subjected to tests simulating six violent…