Extended tax credits could push up wind power production over the next three years and beyond, according to an Energy Information Administration (EIA) report released today.

After Congress' January approval of an extended "renewable electricity production tax credit," energy companies remain eligible for significant tax credits for building wind farms over the next three years.

With an influx of new wind, generation could increase by as much as 34% by 2016, 9% higher than the EIA had previously calculated.


Source: eia.gov.

Although Congress' green light included other tax credits for energy efficiency improvements, biofuels, and utility-scale renewable, the EIA's analysis shows that wind wins the most from the new extension, since "generate power by 2013" deadlines have been shifted to "begin construction by 2014" mandates.

The article Projections Put Wind Power Up 34% in 3 years originally appeared on Fool.com.

Y ou can follow Justin Loiseau on Twitter @TMFJLo and on Motley Fool CAPS @TMFJLo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Understanding Stock Market Indexes

What does it mean when people say "the market is up 2%"?

View Course »

Portfolio Basics

What are stocks? Learn how to start investing.

View Course »

Add a Comment

*0 / 3000 Character Maximum