Romney wants to end federal wind energy production tax credit

Staffers for Mitt Romney say the presidential candidate wants to end the federal wind energy production tax credit set to expire at the end of the year.

“It’s really going to slow down the expansion of wind energy,” Harold Prior, executive director of the Iowa Wind Energy Association told the Des Moines Register. “This could mean the loss of several thousand jobs in the industry.”

Romney's anti-endorsement of the credit adds to already rising uncertainty over its future--uncertainty that has the industry focusing on exports. 

“The production tax credit has helped the industry grow," countered Joe Baker, chief executive officer of Acciona’s North American windpower unit. "There’s a time and place for it and over some period of time, they should phase down the tax credit, but we need some level of certainty in the marketplace over the next few years and then the phase-out process can begin.”

The Obama administration, meanwhile, is seeking an indefinite extension of the tax credit. Deputy Energy Secretary Daniel Ponemon said last week in Houston that the credit has been "effective ... in producing American innovation [and] creating new American jobs" and should be extended.

Comments

[BR Green]

Romney wants business as usual. All oil/gas subsidies should be given to wind and solar.