Congress has included the long-sought extension of wind energy tax credits in final passage of a bill to avert the "fiscal cliff".
The version included in the deal would cover all wind projects that start construction in 2013. Companies that manufacture wind turbines and install them sought that definition to allow for the 18-24 months it takes to develop a new wind farm. Leaders of the Senate Finance Committee included that version in a "tax extenders" package they assembled in August, which made it into the overall fiscal cliff deal that passed the Senate and the House. The bill has been signed into law by President Barack Obama. The extension, while not a long-term policy solution, at least prevents an abrupt end to the tax incentive.
The version included in the deal would cover all wind projects that start construction in 2013. Companies that manufacture wind turbines and install them sought that definition to allow for the 18-24 months it takes to develop a new wind farm. Leaders of the Senate Finance Committee included that version in a "tax extenders" package they assembled in August, which made it into the overall fiscal cliff deal that passed the Senate and the House. The bill has been signed into law by President Barack Obama. The extension, while not a long-term policy solution, at least prevents an abrupt end to the tax incentive.
