Ed Zaelke Quoted on Renewables Policy Uncertainty by Windpower Monthly
Windpower Monthly, for its article “United States - Emerging from bust cycle once more,” quoted Akin Gump energy partner Ed Zaelke on the potential impact of renewables policy uncertainty on what appears to be a growth year for the wind industry in the United States.
Zaelke discussed uncertainty regarding the PTC [production tax credit], whose one-year renewal in 2013 spurred new project development in the fourth quarter, but which expired in December 2013 for the fifth time in 20 years. He noted that, as a result, tax equity money is in short supply and that availability of wind turbines, limited by the uncertain market, is bottlenecking development.
He also predicted that some smaller developers will be unable to secure the turbines they want at the right price in 2014 and will have to cancel projects, even with power purchase agreements.