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United States

Boost to wind industry as US production tax credit increased

The US Production Tax Credit has been increased to $0.018/kWh for 2002. The PTC, created in 1992 and recently extended to the end of December 2003, provides a $0.015/kWh tax credit for electricity generated with wind turbines, an amount that is adjusted annually for inflation. Last year, the credit was $0.017/kWh. The size of the PTC is determined by multiplying a set inflation adjustment factor by the original $0.015/kWh credit. This year's inflation adjustment factor, announced by the US Internal Revenue Service, is 1.1908.

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