The wind power industry is predicting massive layoffs and stalled or abandoned projects after a deal to renew a tax credit failed Thursday in Washington.
The move is expected to have major ramifications in states such as Illinois, where 13,892 megawatts of planned wind projects — enough to power 3.3 million homes per year —
...are seeking to be connected to the electric grid. Many of those projects will be abandoned or significantly delayed without federal subsidies.
There is still a possibility the wind power tax credits could come through as a stand-alone bill or tied to other legislation. But Washington insiders say that is unlikely to happen before the election in November.
By then, the wind industry says, it will be too late to avoid massive layoffs and project delays, because wind projects slated for 2013 should already be far along.
The tax credit, which debuted in 1992,
Labels: Carbon Cult
The current icon shows Polistra using a Personal Equation Machine.