U.S. Wind Industry Staggers To Its Feet After It’s Tax Break Was Saved At The Last Minute

The fiscal cliff deal restored an important tax break (though one much smaller than, say, the oil and gas industry). But will the late timing of the deal mean that the damage is already done? 2012 was a tough year for the global wind industry. Spain’s budget crisis shrank the once-thriving market; China’s breakneck expansion, with enough turbines to be the biggest wind generator in the world, came up against inadequacies in the electric grid. Here in the U.S., uncertainty about the future of the wind production tax credit, which was set to expire at the end of the year, led to layoffs of thousands of workers and the cancellation of many planned projects. Editor’s NoteIn other wind news, we now have the biggest turbine ever, with blades longer than a football field.Read Full Story