United States

United States

FEDERAL TAX CREDIT FOR WIND INCREASED

The federal tax credit for wind energy production has been increased from one and a half cents to $0.016 /kWh, the Internal Revenue Service has announced. The amount of the production incentive -- fought for long and hard by the American Wind Energy Association before its introduction in 1992 -- was adjusted for inflation, as required by the 1992 Energy Policy Act. The tax -- which applies to wind farms placed in service from December 31, 1993 to July 1, 1999 -- had not been adjusted for last year

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