Wind Energy Advocates Seek Extended Tax Credit
On Nov. 11, the Daily Journal reported on two competing bills in Congress that would either extend product tax credits to renewable energy projects or scuttle a number of existing tax incentives. The article noted that an extension of the tax credit would greatly help the California wind energy as the state's utilities attempt to get 33 percent of their electricity from renewable sources by 2020. If it fails, the industry would be in trouble, said Anne Mudge, a partner at Cox Castle & Nicholson in San Francisco who works extensively on wind energy projects. In fact, she said, "I think while there continues to be an uncertainty [about its renewal], people are going to be very cautious about pushing new projects in 2012. I see a big drop-off in new projects being proposed [this year] whether it's extended or not."