GE Sees U.S. Wind Credit Muting Slump in Turbine Demand

Lock
This article is for subscribers only.

The extension of a U.S. wind-power tax credit will temper a plunge in demand for turbines over the next two years, according to the chief of General Electric Co.’s renewable energy unit.

Installations in 2013 and 2014 may match the average annual levels that preceded a rush to finish projects by the end of 2012, when the credit was set to expire, GE Vice President Vic Abate said today. U.S. demand had been about 5,000 megawatts to 6,000 megawatts a year before that surge, he said.