David Burton Quoted in North American Windpower and SNL Energy on IRS Increase in PTC for 2013
Akin Gump tax partner David Burton was quoted by North American Windpower on the Internal Revenue Service’s announcement that the federal production tax credit for wind in 2013 would increase to $0.023/kWh from $0.022/kWh in 2012. The last increase had come in 2010.
Burton said, “This is good news for developers, as each hour of electricity generated by their qualified projects is slightly more valuable for tax credit purposes.”
In a separate article in SNL Energy, Burton noted that the inflation-adjusted tax credit “applies to all projects that fall within [a] 10-year window,” that begins after the date a facility is placed in service.