San Diego Energy Projects Can Tap Extended Wind Credits
Thursday, January 3, 2013
Wind energy will get a disputed tax credit at least for the rest of 2013. That's part of the federal deal to avoid the fiscal cliff.
California wind energy supporters are pleased that Congress turned back conservative headwinds and approved a one-year extension of tax credits for their industry.
Advocates said uncertainty over the credit's future has already cost the industry thousands of jobs around the country.
The wind industry welcomes the federal subsidy. It could help projects like the Ocotillo wind farm in the Imperial Valley and the Tule Wind project in eastern San Diego County. Projects have to be under construction by the end of the year to qualify.
"We get paid, or get a tax credit for for every kilowatt hour that is produced," said Nancy Rader of California's Wind Energy Association.
"And so our tax credit is dependent on our production and not investment, no up front investment, but actually producing the energy," she said.
Wind energy has created about 5,000 jobs in California and generates 6 percent of the state's power.
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