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Tuesday, October 22, 2013

Oversight Hearing on Wind PTC

 The House Oversight and Government Reform Subcommittee on Energy Policy, chaired by Rep. James Lankford, R-Okla., convened for a hearing entitled, “Oversight of the Wind Energy Production Tax Credit.”
The hearing  was convened to examine whether the Production Tax Credit (PTC) is still necessary to support the wind energy industry. Over the last decade, wind energy consumption has increased dramatically, growing by 1,082% between 2003 and 2012. The latest PTC extension passed in January 2013 significantly expanded eligibility standards for the costly tax credit. Previously, in order to be eligible for the PTC, wind facilities had to be producing energy; now, a facility must simply “begin construction” to qualify. The tax credit, which is overseen by the Internal Revenue Service, is set to expire in January 2014 unless Congress passes another extension.

2 comments:

Anonymous said...

The PTC is on very shaky ground this time around. Pro wind lobbyists will have to spend handsomely to get it extended again. But even that may not get it done. The tension in Washington may hopefully cause opponents to dig in their heels.

Anonymous said...

There will be lots of debate and stance taking by the Rep., but come the end of Dec. the Legislature again will not be able to refrain from playing Santa to the wind industry and will extend the PTC.

Irresponsible governing.