Loss of wind energy tax credit may mean loss of many jobs
photo courtesy of NREL
The wind power industry in this country has grown fast in recent years, but that could come to a screeching halt.
The industry depends on a federal subsidy to keep it competitive with other forms of electricity. It's a tax credit wind farms get for the power they produce. That credit expires at the end of the year, and it's not clear whether Congress will renew it.
The tax credit was initially created to encourage wind energy, since it is a clean and secure source of electricity. But these days the argument is all about jobs.
Tens of thousands of jobs depend on the tax credit, and it's not just the people who build wind farms. In recent years, wind turbine manufacturers have taken root in the United States. Now, 60 percent of those components are manufactured here, according to the American Wind Energy Association.
---------
The wind industry is now big enough that it's also garnering support from groups like the U.S. Chamber of Commerce and the American Farm Bureau Federation. So it's not clear what Congress will do: Save money or save jobs.
