Production Tax Credit gets extension through 2020

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Under the extension, wind projects that began construction in 2019 are eligible for the 40-percent credit, and those that start construction in 2020 will be eligible for a 60-percent credit.

President Donald Trump recently signed into law a spending and tax bill that includes an extension of the wind energy Production Tax Credit (PTC) for one year.

The bill also raises the value of the PTC to 1.5 cents/kilowatt hour.

“This bipartisan bill is a major win for American consumers,” said AWEA CEO Tom Kiernan. “It means more business for over 500 U.S. factories building wind-turbine components, and it means more opportunities for job creation and economic development in the rural communities hosting wind farms. We appreciate that Congress has recognized wind and other renewable’s role in building a strong economy while also reducing carbon emissions.”

Previously, wind facilities were eligible for a reduced PTC of 40 percent through the end of 2019, when the credit was set to expire. Under the extension, wind projects that began construction in 2019 are eligible for the 40-percent credit, and those that start construction in 2020 will be eligible for a 60-percent credit, according to Daily Energy Insider.

MORE INFO  awea.org