EnergyWatch

Wind industry gets gold-lined Christmas presents in the US

The offshore wind sector gets a massive boost in the US with five years of tax rebates at a higher level, while solar and onshore wind also benefit from Congress passing the economic aid bill.

Democratic House Speaker Nancy Pelosi and Republican Senate minority leader Chuck Schumer helped pass the bipartisan economic aid bill in Congress. Photo: Tasos Katopodis/AFP/Ritzau Scanpix

Christmas is a time for giving, so it goes, and the same can be said of the US' approach to subsidizing the domestic wind energy sector.

For the third time in one year, Congress has ratified an expansion of the Production Tax Credit (PTC) support scheme as a part of the economic stimulus package that passed Tuesday. Beyond USD 900 billion in Covid-19 economic aid, the bipartisan bill will now also channel USD 1.4 billion toward federal investments and tax cuts.

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