Congress passes one-year PTC extension

UNITED STATES: The Production Tax Credit (PTC) has been extended for one year as part of the so-called "fiscal cliff" deal agreed by Congress yesterday

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The tax break expired on 31 December and the industry was predicting 37,000 job losses as a result. But now all wind projects that start construction in 2013 will qualify for the $0.22/kWh incentive.

The American Wind Energy Association (AWEA) hailed the move. "Now we can continue to provide America with more clean, affordable, homegrown energy, and keep growing a new manufacturing sector that’s making nearly 70% of our wind turbines in the USA," said Rob Gramlich, AWEA’s interim CEO.

The Investment Tax Credits for community and offshore projects was also extended.

Last year saw a rush by developers to install projects before the tax break lapsed - wind represented 44% of all new electricity-generating capacity in the US in 2012, according to the Energy Information Administration.

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