Tax Credit Uncertainty Stalls Iowa Wind Energy
From The Hawk Eye
By Robert Maharry
Iowa’s wind energy producers and manufacturers are scrambling to finance new projects over the next two months because they don’t know if the Federal Renewable Electricity Production Tax Credit they rely on heavily will continue to be available.
MidAmerican Energy, the nation’s largest wind power generator among rate-regulated utilities, has no plans beyond December to expand its wind energy projects, company media relations manager Tina Potthoff said.
Trinity Structural Towers Inc., with a plant in Newton, plans to diversify operations if the subsidy is not extended, a company official asking not to be identified told IowaWatch. And ACCIONA Wind Power North America, which builds turbines and operates a plant in West Branch, probably will shift sales to overseas, company CEO Joe Baker said.
“The short-term renewal strategy creates uncertainty in the marketplace and an inability to plan long-term,” said Baker, who like others in the wind energy business, wants the credit extended beyond its scheduled Dec. 31 expiration.
