Congress Fuels Wind Energy Boom with Tax Credit

Tax credit extended retroactively for two years to December 31, 2003.

Published: 14-Mar-2002

WASHINGTON, DC, March 13, 2002 (ENS) - The U.S. wind energy industry is set to spin into high gear with the passage by both houses of Congress of an extended production tax credit for electricity generated by wind power.

American Wind Energy Association (AWEA) executive director Randall Swisher said that with the tax credit back in place "wind energy development in the U.S. should resume the blistering pace it set last year when more wind capacity was installed than in any previous year in U.S. history."

The 1.5 cent per kilowatt hour tax credit, which had expired December 31, 2001, will be extended retroactively for two years to December 31, 2003.

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