Projections Put Wind Power Up 34% in 3 years
May 22nd 2013 6:13PM
Updated May 22nd 2013 7:00PM
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.
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.
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