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Hurricane Blows Through The US Wind Industry

The tax credit extension for US wind power subsidy has been dropped and a new report says that half of US off shore wind turbines would be destroyed in a hurricane

The global trend in cutting the tax payer funded Green subsidies that allow wind and solar to exist, has arrived in the United States.

In the US wind farms have been subsidised since 1992 by the Wind Production Tax Credit (PTC), which was usually extended for 1 – 2 year periods; in 2009 the American Recovery and Reinvestment Act extended subsidy for wind power until the end of 2012.

An extension of the PTC, the subsidy that allowed wind to be competitive with other forms of energy, has been left out of a payroll tax cut extension currently making its way through the USĀ  House of Representatives, without a change of policy wind subsidy ends in 2012.

The Americans have subsidised wind power for 20 years, and yes, you guessed right without Green taxation the US wind industry is dead. Read the rest of this entry