Sunday, November 11, 2012

Tax Welfare ~ Vital to Wind industry

  Construction Law Developments.

 Windtoons.com

  MARCH 21, 2012
It begins to look like Congress will let the $0.022 per kilowatt hour Production Tax Credit for wind generated electrical power expire when the current legislation runs out December 31, 2012, and that is already putting a damper on wind farm expansion plans, dampening the economic impacts of wind farm construction work and wind generation equipment manufacturing, as big players in that sector of the construction economy contemplate major layoffs.
John Graham, CEO of BP Wind Energy, which owns the 100 megawatt Flat Ridge wind farm north of Medicine Lodge, Kansas, says the tax credit is still needed to make wind energy generation price competitive with coal and natural gas fueled power.


 According to Graham, the Production Tax Credit costs the government $3.5 billion annually in lost tax revenue, but produces $15 to $20 billion in investment in wind power manufacturing and construction.
   Continue reading via this link to Construction law Developments



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