U.S. Wind-Farm Boom Set to Bust in 2013 as Obama Tax Breaks End
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A U.S. boom in wind farm projects is poised to bust in 2013 as tax breaks by President Barack Obama’s administration prompt developers to rush through construction of new sites this year, according to Bloomberg New Energy Finance.
More than 9 gigawatts of turbines may be constructed by the close of 2012 when the Production Tax Credit ends, said Justin Wu, head of wind analysis at Bloomberg New Energy Finance. The U.S. Treasury Department’s cash grant, which expired on Dec. 31, also spurred financing for projects to be built this year.