Thursday, September 30, 2004

The Production Tax Credit and Its Impact in Vermont

The Rutland Herald and Times Argus published on article yesterday on the impact of the recently reenacted Production Tax Credit on wind power projects in Vermont. The Article discusses several different projects, including the Glebe Mountain Project, proposed by Catamount Energy, as well as the East Haven project, proposed by East Haven Wind Farm.

Both David Rappaport of East Haven Wind Farm, and Robert Charlebois, managing director of Catamount Energy, emphasize the importance of the PTC to future development of wind energy projects in Vermont. But as Rappaport points out, the renewable energy industry still receives a relatively small portion of the total amount of federal subsidies to energy sector - just $500 million of a $13 Billion. And according to the article, congressional estimates indicate that the wind industry itself is likely to only see $44 million of the $500 million slated for the broader renewable energy sector (or just over0.3% of total energy sector subsidies).