PTC scheme could be preserved in US tax proposal

Vestas and other turbine manufacturers that operate in the US could be about to get a break, as the US PTC scheme will likely be preserved without reductions.

Photo: Vestas

The US production tax credit for renewable energy, known as the PTC, will likely be preserved in its current form, despite threats to reduce it during the current tax negotiations in the country.

The House of Representatives and the Senate in the US are in the midst of hashing out a a draft for tax reform and the latest proposal does not include reductions of the PTC, reports Bloomberg News, citing a Republican familiar with the negotiation process.

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