Wind industry tax credits renewed by Congress

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Jan 4, 2013

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Wind industry tax credits renewed by Congress

The wind industry is breathing a sigh of relief. Congress extended the sector's tax credits for another year.Lawmakers also restructured the deal so that any project started in 2013 can get the write-offs, even if they don't finish until years later.

In a picture taken on June 16, 2009, commuters on a country road ride past a wind farm developed by state-owned China Energy Conservation Investment Corp in Zhangbei, north of Beijing in Hebei province. While a couple of years ago only a few dozen of the 80-metre (262-foot) propellor-like turbines stood on the wind farm's vast open expanse of grass, today there are 200 and counting.

The wind industry is breathing a sigh of relief. Congress extended the sector's tax credits for another year.Lawmakers also restructured the deal so that any project started in 2013 can get the write-offs, even if they don't finish until years later.

The wind industry is breathing a sigh of relief. Congress extended the sector's tax credits for another year.

Lawmakers also restructured the deal so that any project started in 2013 can get the write-offs, even if they don't finish until years later. This is good news for an industry that's been struggling to compete with cheaper natural gas.

Here to talk more about which way the wind is blowing for this business, is Matthew Wald, who covers green energy for the New York Times.