Senate Breaks Wind Before Recess

The U.S. Senate this week again denied an extension to the Production Tax Credit for wind energy.

Unless the Senate agrees on an extension, the PTC will expire at the end of 2008. In the three years the PTC was not renewed (1991, 2001 and 2003) new wind energy development declined by up to 93%. The PTC was ultimately renewed and made retroactive in each case; however, as oil-drilling Republicans face wind-ravaging Democrats, it could still be an interesting fight as 2008 draws to a close. Meanwhile, wind developers are frantically trying to get their projects up and running before the deadline. Poor things.