Wind credit extension approved in ‘Fiscal cliff’ deal

A one-year extension to a wind power credit made it into the final “fiscal cliff” bargain Tuesday, much to the delight of green groups and the wind industry.

The 2.2 cent-per-kilowatt-hour credit for wind-power production had already expired Tuesday. Green and industry groups had pushed hard for its extension, saying letting the credit end would eliminate 37,000 jobs.

“[W]e thank President Obama and all the members of the House and Senate who had the foresight to extend this successful policy, so wind projects can continue to be developed in 2013 and 2014,” Denise Bode, the departing chief executive of the American Wind Energy Association (AWEA), a wind industry group, said in a Tuesday statement.

Its inclusion marks a defeat for conservative groups and lawmakers, who argued an alteration to the credit amounted to an expansion of the program.

The fiscal-cliff bill headed to Obama’s desk extends a handful of income tax rates and punts a series of automatic spending cuts for another two months.

Read more at The Hill. By Zack Colman.

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