EnergyWatch

Oklahoma cuts subsidies for wind

Wind development in the US state of Oklahoma has been so rapid that the governor will now remove lucrative state subsidies.

While the US is maintaining the PTC scheme at the federal level, one of the most wind-enthused states now plans to reduce its support for the installation of wind. The state of Oklahoma wants to shorten the period in which it is possible to obtain tax credits for wind projects. The period will be significantly reduced by almost four years. Instead of expiring on Jan. 1 2021, the program will now expire July 1 of this year.

The Oklahoma House of Representatives voted to reduce the period for tax credits for wind. The period is being shortened in an attempt to save on public expenses, says Oklahoma Governor, Mary Fallin. It is estimated that Oklahoma can save up to USD 500 million (EUR 467 million) by cutting the tax credits over the next ten years.

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