Treasury Assistant Secretary for Legislative Affairs, Alastair Fitzpayne, wrote Senator Michael Bennet (D-CO) on March 28 that the “start of construction” production tax credit guidance that the wind industry is eagerly awaiting will be issued “as soon as possible.” The letter provided no other color. It will be interesting to see what “as soon as possible” means to Treasury.
Lack of guidance is impeding the development of new renewable energy projects; favorable government guidance would likely spark orders for turbines and the construction of projects. Such activity would benefit the still-high unemployment rate in the United States as well as spur the economy generally.
To read PTC letter from Treasury to Senator Michael Bennet click here.