Wind energy facing troubling future

wind energy support

Offshore wind energy continues to grow in Europe Offshore wind energy has found a great deal of support in Europe, where many countries are exploiting their access to the ocean for the sake of energy production. According to a recent study from the European Wind Energy Association, the region accounts for a record number of installed offshore wind turbines during the first half of 2013. Many countries have opted to pursue offshore wind energy for economic reasons as the cost of fossil-fuels grows to a point where it can no…

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Production Tax Credit extension heralded as victory for wind energy industry

Wind Energy Tax Credit

Production Tax Credit extension praised by wind energy developers The U.S. wind energy industry received some good news for the new year as federal lawmakers agreed to extend the Production Tax Credit, which helps support various wind energy products throughout the country. The extension was approved as part of a legislative deal that would help the U.S. avoid its “fiscal cliff” problem. The extension ensures that wind energy projects taking root throughout the U.S. will continue to receive the financial support they rely on to take form. Vestas calls extension…

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American Wind Energy Association proposes to phase out Production Tax Credit

Wind Energy - Hydrogen Fuel

American Wind Energy Association aims to get rid of the Production Tax Credit, eventually The U.S. has shown strong support for wind energy over the past several years, but the country is currently debating the justification for extending the Production Tax Credit, which provides wind energy companies and their assorted projects with tax breaks. The American Wind Energy Association is a strong supporter of the Production Tax Credit, but the organization is well aware of the financial implications of the country’s continued support of wind energy. The organization has proposed…

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Wind energy industry braces for expiration of Production Tax Credit

Wind Energy Industry Tax Credit Deadline

Wind energy industry may soon lose support of Production Tax Credit The U.S. wind energy sector is in danger of losing a strong tax credit from the federal government due to congressional inaction. The Production Tax Credit, as it is called, is a major factor in the growth and success that the wind energy industry has seen in recent years. Backed by this tax credit, U.S. wind energy capacity has exceeded 50,000 megawatts, which is enough to power more than 13 million average homes. A congressional stalemate may put an…

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Wind energy finds bipartisan support in U.S. politics

wind energy support

Lawmakers come together to petition the extension of the Protection Tax Credit Last week, a group of 16 Republicans and two Democrats issued a letter to the House of Representatives at large petitioning legislators to extend the longevity of the Protection Tax Credit for the country’s wind energy projects. PTC is a federal financial policy designed to support alternative energy projects throughout the U.S. The policy has been a vital part of the growth seen in the wind energy industry over the past several years and its supporters believe it…

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U.S. Treasury Department proposes refundable tax credit for wind energy

Wind Energy Tax Credit

This past week, the U.S. Treasury Department released a proposal for reforms of a number of business taxes. This proposal would bring changes to the federal Production Tax Credit for wind energy projects. Wind energy in the U.S. depends heavily on tax incentives provided to companies by the federal government. Without these incentives, many companies would likely show modest interest in alternative energy as a whole. Over the past two years, the federal government has had a somewhat volatile relationship with alternative energy, a fact that the Treasury Department is…

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