Texas Wind Energy Projects Worth About $11 Billion Threatened by U.S. House Tax Vote Thursday

The wind energy industry is warning that $10.9 billion worth of Texas projects could be threatened by a U.S. House vote Thursday.The House is scheduled to decide on tax reform that includes retroactively slashing the wind energy production tax credit. And, that's worrying industry leaders in Texas, which has lead the U.S. in electricity produced by wind farms and has a large percentage of the nation's wind projects currently in the pipeline.A "yes" vote in the House this week would not automatically be a deal killer for the wind industry. The Senate's plan keeps the existing tax credits, which are being phased out by 2019. If the House and Senate versions differ on the tax credits, the versions would have to be reconciled later this year."It would be a devastating blow," said Michael Rucker, CEO of Colorado-based Scout Clean Energy, about the Senate version. "By completely changing the tax credit and start of construction guidelines, most of these projects become unfeasible."  Continue reading...

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