How Does American Recovery and Reinvestment Act of 2009 Relate To Wind?
In January 2009, President Obama passed the American Recovery and Reinvestment Act, which extended the Production Tax Credit (PTC) through 2012. The tax credit greatly improves the possibilities of a successful project. Not only was the tax credit renewed, but the options for receiving the tax benefit also increased. Companies are now allowed to receive the credit in a form of a grant or investment tax credit, allowing them to receive the reimbursement sooner, and use the funds toward the project. Prior to 2009, companies either had to wait or go through a tedious financing process before receiving any funds. As you can see from the chart below, renewing the PTC keeps the U.S. wind industry growing in the right direction toward energy independence.
In January 2009, President Obama passed the American Recovery and Reinvestment Act, which extended the Production Tax Credit (PTC) through 2012. The tax credit greatly improves the possibilities of a successful project. Not only was the tax credit renewed, but the options for receiving the tax benefit also increased. Companies are now allowed to receive the credit in a form of a grant until the end of 2010, allowing them to receive the reimbursement sooner and use the funds toward the project. Prior to 2009, companies either had go through a tedious financing process before receiving any funds. As you can see from the chart below, renewing the PTC keeps the U.S. wind industry growing in the right direction toward energy independence.
