Tax Credit on Wind Energy Extended

Jan 5, 2013

Colorado ranks 12th in the nation in wind energy production, according to the American Wind Energy Association(AWEA), and wind turbines will keep on turning in 2013. Congress voted to extend the tax credit on wind energy that many said was key to the survival of Colorado’s wind-power industry. The credit’s one-year extension was included in the measure to avert the fiscal cliff.

“On behalf of all the people working in wind energy manufacturing facilities, their families, and all the communities that benefit, we thank President Obama and all the members of the House and Senate who had the foresight to extend this successful policy, so wind projects can continue to be developed in 2013 and 2014,” Denise Bode, CEO of AWEA, said in a statement after Congress’ vote.

This 2013 extension looks a little different than years past. To be eligible for the tax credits, projects must simply have started construction by the year’s end. They don’t have to be complete to qualify.

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