Impact of the Production Tax Credit on the US Wind Market
The American Wind Energy Association commissioned a study, released last month, which found that an extension of the Production Tax Credit will likely spur growth in the U.S. wind market, increase annual installations, and add wind supported jobs.
As Congress went home for their winter holiday recess there was a lot of discussion about renewable energy tax incentives. This study was released just before Christmas and was very helpful for my understanding, now that I'm clearing my desk and geting organized for 2012, I'm sharing these figures with you.
The Impact of the Production Tax Credit on the US Wind Market, prepared by Navigant Consulting for the American Wind Energy Association, predicts that:
»With no PTC extension, the U.S. wind market will shrink significantly in 2013.
Annual installations will be 2 GW in 2013, down from >8 GW in 2012.
Total wind supported jobs will drop by nearly half, from 78,000 in 2012 to 41,000 in 2013.
Total wind investment will drop by nearly two-thirds, from $15.6 billion in 2012 to $5.5 billion in 2013.
»With a 4 year PTC extension, the U.S. wind market will grow through 2016.
Annual installations will be 8-10 GW through 2016.
Total wind supported jobs will grow to 95,000 by 2016.
Total wind investment will grow to $16.3 billion in 2016.
