Praying for the PTC

If America's politicians need evidence of the importance of the federal Production Tax Credit (PTC) to the wind power market they need look no further than the frantic industry activity this month. Hundreds of people are working to get turbines installed before the current PTC drops dead on December 31. For those projects that do not make it, the expected one year extension will be a godsend. But one year is not enough to stabilise the market and give wind the opportunity it needs to realise its full potential for production of cheap, clean power.