What an absolute scam!! Did solar get an extension? NO!! Did offshore wind get an extension? NO!! Did battery storage get an extension? NO!! It is amazing at just how good the wind lobby is at extracting our tax dollars to prop up their worthless platform!
Big Wind Secures Extension on Expiring Tax Breaks
The end of 2019 was the expiration date for the federal PTC – Production Tax Credit for the wind industry. However, at the last minute on Monday (12/16) lobbyist where able to convince Representatives to extend the these tax breaks through 2020.
“If the full deal wins congressional passage, as is expected, wind developers can now qualify for the production tax credit through 2020 — a year longer than anticipated. Developers qualifying projects in 2020 will receive 60 percent of the PTC if they bring those projects online by the end of 2024. Projects qualified in 2019 will still receive only 40 percent of the incentive.”
This bill has passed through the House and now moves to the Senate where it is expected to pass.
For an industry that claims continually they do not need the tax breaks and incentives to be competitive they sure seem to spend a bunch of time and money lobbying to secure them!