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Tax Breaks To Boost Turbine Spending

Publication Date: 5/20/2009
Author: Sarah Klose
Format: HTML

Description:
Wind-power owners, developers and suppliers are preparing to soar under a new round of federal incentives. The news had 23,200 visitors—78% more than last year—blowing into the world’s largest conference on wind-generated electricity. On tap was February’s passage of the American Recovery and Reinvestment Act, which boosts production tax credits (PTCs) to reduce owners’ tax burden for the first 10 years of operation. Wind PTCs are extended two years, through Dec. 31, 2012. Developers also can claim an alternate investment tax credit (ITC) or Treasury Dept. grant to recoup 30% in the first year.

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