Renewables Tax Incentive Extension Proposed

By Published On: February 3, 2012

While President Barack Obama focused on increasing natural gas use in his State of the Union address, he more quietly proposed “renewing and extending a number of proven and successful provisions that are crucial to the continued growth of the domestic clean energy sector.” The tax incentives include the manufacturing and the production tax credits for renewable energy projects. The Republican-controlled House has a bill that provides a mechanism to keep alive the credits. H.R. 3307, by Rep. Dave Reichert (R-WA), is pending in the House Ways & Means Committee. According to sources, the different renewables proponents take different positions on the length of an extended production tax credit. Most are pushing for a one-year extension. The American Wind Energy Association appears to be set on a four-year extension. AWEA did not return requests for comment on the legislation.

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