Hywind Maine

Wind energy tax credit extended in fiscal cliff deal

Posted:  
Wednesday, January 2, 2013 - 10:30am
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The wind may be cold of late in Maine, but it has been blowing favorably from Washington, D.C. for wind energy proponents. 

Two weeks ago, the Department of Energy awarded both Statoil, the Norwegian energy company, and the University of Maine up to $4 million each for wind energy research projects proposed in Gulf of Maine waters. In Tuesday’s fiscal cliff agreement, Congress extended the controversial wind energy tax credit, considered crucial to the struggling wind industry, for one more year.

The Denver Business Journal reported the wind production tax credit would save wind developers 2.2 cents per kilowatt hour over 10 years of production.

Maine Wind Industry Initiative Director Paul Williamson said Congress’s decision was more welcome news for the Maine wind industry. 

“The combined events in the recent months creates a positive atmosphere that will foster continued development of the wind and ocean energy markets in Maine adding economic growth and job creation for Maine companies,” Williamson said Wednesday morning, Jan. 2.