Categorized | Renewable energy

Wind power bankruptcies coming as production tax credit expires

GE wind turbine

GE is a major player in wind turbine. They expect many bankruptcies among their suppliers due to the production tax credit for wind expiring at the end of the year. Thus, they are winnowing out suppliers among the 200 they use now and may end up with as few as three.

Congress could get off its dead ass and extend the credits but won’t even consider it until after the November elections, insuring that thousands of jobs will be lost. Congressional Democrats, as always, are too timid and compromised to take a stand and force the issue. God forbid they chance alienating a mythical swing voter.

  • Steve G

    We wouldn’t need to issue tax credits if the oil subsidies were removed. What would happen is oil would become more expensive and green energy would then not be so expensive compared to oil. Basically let the free market decide rather than tax credits over how we should produce our energy needs.

    • http://polizeros.com/ Bob Morris

      But if we let the free market decide it all, we’ll just have coal and moe coal. Sometimes governments need to force an issue by legislation and encourage it with money.

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