Supporters of the production tax credit for wind power can breathe a little easier, at least for now. Whatever else anybody says about the “fiscal cliff” legislation drama, in the end, our friends over at the American Wind Energy Association (AWEA) are sure in a celebratory mood. The final bill, signed by President Obama late last night, includes a provision that extends the production tax credit for wind power for one year. Not only that, it changes from providing tax credits only to projects completed by the end of the year, to providing tax credits to any project started by the end of the year.
One of the few things Mitt Romney made very clear during his campaign was his desire to cut this tax credit, which, for one, has proved to be beneficial for Iowa. Iowa voted strongly for Obama.