Did you know that ALL forms of electricity generation are “incentivized” in some way by the federal government?
Our current tax code subsidizes all forms of energy generation technology, conventional and alternative.
The wind energy industry benefits from a Production Tax Credit (PTC). The PTC is designed to provide a tax credit based on the quantity of electricity generated by wind energy technology. Importantly, the tax credit is not granted if a wind project fails to produce energy.
In 2016, legislation was passed to phase out the PTC in the coming years.
The PTC has been successful in helping create jobs. The wind energy industry has created more than 100,000 jobs throughout the United States, including over 8,300 industry jobs right here in Illinois. And, job growth is expected to continue even after the PTC program has been phased out.