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U.S. Wind-Farm Boom Set to Bust in 2013 as Tax Breaks End

January 24, 2012, 07:30 AM
Filed Under: Energy

According to Bloomberg Energy Finance, the U.S. boom in wind farm projects is poised to decline in 2013 as tax breaks by the Obama administration prompt developers to rush through construction of new sites in 2012.
Per the report, more than 9 gigawatts of turbines may be constructed by the close of 2012 when the Production Tax Credit ends. The U.S. Treasury Department’s cash grant, which expired on Dec. 31, also spurred financing for projects to be built this year.
While 2012 will be a “bumper” year, Justin Wu, head of wind analysis at Bloomberg New Energy Finance said, “The U.S. wind market will likely crash in 2013 as uncertainty over the Production Tax Credit extension this year means that little development activity will take place.”

The U.S. Production Tax Credit grants an incentive worth 2.2 cents a kilowatt-hour of wind power generated by projects.

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