Wind Power Tax Credits Extended in Fiscal Cliff Deal

By KBJR News 1

Wind Power Tax Credits Extended in Fiscal Cliff Deal

January 2, 2013 Updated Jan 2, 2013 at 1:31 PM CDT

Washington, D.C. (NNCNOW.com) --- Congress' agreement over the fiscal cliff could soon mean more renewable energy across the country.

The deal struck late last night also included an extension on the renewable energy Production Tax Credit and the offshore wind Investment Tax Credit. Both expired on December 31st, but once the President signs the bill into law, tax credits will be available for wind projects that start construction over the next year.

"President Obama and clean energy champions, including Senators Klobuchar and Franken, helped make this a happy holiday for our health and our environment by extending critical tax credits for wind energy," says Environment Minnesota’s Michelle Hesterberg.

Hesterberg says that wind powers nearly 13 million homes nationwide and in Minnesota, the use of wind power has already reduced pollution in the state equal to taking 757,000 cars off the road each year.

Posted to the web by Krista Burns