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Politics

Last-Minute Fiscal Cliff Deal Includes Wind Energy Tax Credit

Vestas Wind Systems.jpg
Vestas Wind Systems

An early-morning deal approved by the Senate to avert a series of automatic tax increases includes a one-year extension of the wind energy Production Tax Credit.

Update 7:56 a.m. 1/2/2013 - The compromise Fiscal Cliff bill has been approved by the House.

Our Original Post Continues:

Colorado Senator Mark Udall says although it's not a comprehensive piece of legislation, he's pleased by the inclusion of the PTC extension. He has long supported the measure, delivering 27 speeches in support of extending the credit since June.

"Although this deal is not perfect, I am glad my colleagues have acknowledged what I have spoken about regularly on the Senate floor: Wind energy creates jobs and benefits every American. I look forward to continuing to lead the fight for our wind industry and an all-of-the-above energy policy in 2013."

The extension provides a dose of certainty for the wind industry which employs thousands of workers nationwide, including more than 5,000 in Colorado.

According to the American Wind Energy Association [.pdf], the PTC has helped lower wind power costs in the U.S. by 90 percent since 1980.

It's now up to the House to vote on the deal, which is expected to happen by Wednesday.

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