By Jeff Spross | Climate Progress
A tax credit promoting wind energy and other renewables is set to die at the end of the year, and for the moment there’s no obvious way to resurrect it.
That was the subject of today’s “Oversight of the Wind Energy Tax Credit” hearing by the House’s subcommittee on energy policy. Wind power tends to be the focus of discussion, and the way see-sawing government policy has led to a boom-and-bust cycle for the industry. The production tax credit (PTC) was first renewed by the 2009 stimulus bill and set to expire at the end of 2012, which created a big spike in U.S. wind installations in 2012 as firms rushed to qualify, and then a drop-off in activity in 2013. Congress extended the credit again until the end of 2013 with the fiscal cliff legislation, but the deal was too last-minute to hold off the collapse.
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