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Congress Extends Wind Energy Tax Credit

     Late Wednesday night, President Obama signed a bill that, among other things, extended wind energy tax credits for one year.  The Wind Energy Production Tax Credit (“PTC”) and other related tax credits will continue to apply to current projects and those commenced in 2013.  Wind energy projects comprised approximately 45% of all new electrical generating capacity in 2012.  This compares with about 30% for natural gas.  The threat of the expiration of these credits caused uncertainty in the market place and stymied new projects.  This is good news for the wind industry which has suffered from the political instability in Washington, D.C., as well as unstable market forces.

About Tyler D. Tennent

Tyler D. Tennent is a Member of Dawda, Mann, Mulcahy & Sadler, PLC. He concentrates his practice in the areas of land use, environmental, tax incentives, sustainability, real estate, general corporate and related litigation. Mr. Tennent has significant litigation expertise representing parties in commercial, land use, and environmental litigation, including local, state and federal administrative appellate actions and regulatory proceedings.

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