Congress approved a one-year extension of the federal Production Tax Credit, a key incentive for Oregon wind energy developers.
Congress approved a one-year extension of the federal Production Tax Credit, a key incentive for Oregon wind energy developers.
Extension of the credit, which provides a tax break of 2.2 cents for every kilowatt-hour of energy produced by wind energy, geothermal energy and biomass, had been pursued hotly by politicians in states with significant jobs attributed to wind energy, including Oregon.
The extension will grant the tax break, which lasts for 10 years, to wind farms that are under construction by the end of 2013. As Greentech Media points out, this is a significant change to past versions of the credit, which applied only to wind farms already producing energy by the end of the year.
Read more at Sustainable Business Oregon.
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