Comments dcprell has made
PTC extension
Sean,
Your impulse is correct, but extending the PTC for another year does not mean extending PTC payments for just one more year.
The PTC is a 10 year tax credit that triggers for a project on the date it is placed in commercial service. What a PTC extension does is it extends the placed in service sunset date for another year. In other words, a wind project developed in 2009 will no be entitled to 10 years worth of PTCs.
Like I said, your impulse is correct, though. Significant renewable energy development won't occur unless there is a longer period of PTC certainty. Projects that take 3-4 years to develop need to know that the PTC will be there at the commercial operations date. If the PTC is uncertain, the project never happens.
On Renewables score big victory in the Senate posted 1 year, 7 months ago 5 Responses