Windpower Monthly Quotes Ed Zaelke from AWEA Conference Panel
Ed Zaelke, chair of the global project finance practice at Akin Gump, was quoted in the Windpower Monthly article “AWEA 2016: ‘We must be humble and paranoid,’” following his participation in a session at the American Wind Energy Association’s recent annual conference in which a major theme was the extension of the production tax credit (PTC) and its eventual phase-out.
Turbine makers active in the United States, according to the article, expect a rush of orders at the end of this year as developers try to take advantage of their last chance to get the full-value PTC, which is $0.23/MWh. They will then have up to five years to bring a project online under new IRS guidance.
Once the PTC expires, Zaelke said there could be a slight “valley of death” as developers cope with its absence. “We’re continuing to be addicted to our PTC drug,” he added.