Saturday, June 16, 2012

Vestas CEO: U.S. Wind Market To Drop 80% Without Tax Credit, More Changes in Colorado & Abound

U.S. wind market to drop 80% without tax credit Denver Business Journal Date:
Monday, June 11, 2012 Link

The chief executive of Vestas Wind Systems, the world's largest wind turbine manufacturer, said the U.S. market for wind turbines is likely to fall by 80 percent in 2013 if Congress allows a federal production tax credit to expire later this year. Vestas operates four factories for wind turbine components in Colorado, employing some 1,600 workers.

The Reuters news agency quotes Ditlev Engel, CEO of the Danish company, as saying at a gathering of government officials in Denmark Sunday that the federal tax credit, which is critical for financing wind projects in the U.S., is unlikely to get extended during an election year, leading to a rush of wind-power activity in the U.S. this year ahead of its expiration.

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