ABB: Wind energy tax credit will help indirectly
Saturday, January 12, 2013
When Congress recently passed legislation to avoid the “fiscal cliff,” it also continued a tax credit for wind energy that could give an indirect boost to Jefferson City’s ABB plant.
In that federal legislation was the extension of the Production Tax Credit and Investment Tax Credit for wind energy. The 2.2-cent per kilowatt hour tax credit applies for 10 years of production for qualifying projects during the one-year extension.
ABB’s production includes the gears, motors, parts and drives for wind turbine engines that are sold to wind farm operations.