Monday, December 31, 2012

Wind PTC Reportedly In Senate Fiscal Cliff Tax Bill

In his press conference, the President made reference to "tax credits for clean energy companies," when discussing what is in the emerging Senate "Fiscal Cliff" tax bill.  Others too are reporting on the wind PTC.

Though this tax deal is not baked yet even in the Senate, let alone in the leaderless House of Representatives, the wind industry is finding out that it is good to have the President of the United States and the Senate Majority leader really on your side.

Make no mistake about it, President Obama's tenacity for supporting wind specifically was strengthened by his personal campaign experience in Iowa and Colorado this fall.  In both states, the wind PTC and wind jobs issue helped the President and hurt Governor Romney.

The wind industry built 12,000 megawatts of new capacity in 2012, enough capacity to generate an amount of electricity equal to 6 nuclear plants the size of the still operating Three Mile Island nuclear unit.  What happens with wind and the wind PTC in the next few days or weeks will have major impacts on power markets in 2013.

More to follow soon on this key story.

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