Vestas CEO: U.S. wind market to fall 80% in 2012

11/06/2012 00:00 Renewable

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According to CEO of the world’s biggest turbine maker, Vestas, the U.S. wind market is likely to decline by 80% in 2013 because of the expiry of the U.S. production tax credit (PTC) for renewable energy at the end of this year and it is believed that the new Congress will not renew the legislation before its expiry.

The PTC involves a 2.2-cent per kilowatt-hour benefit for the first 10 years given to a renewable energy facility's operation. Vestas declaration is based on a study from IHS Emerging Energy Research which shows that there is a risk that the U.S wind market could decline from about 11 GW in 2012 to just over 2 GW in 2013, following the abolition of PTC. Vestas said it will be obliged to cut a further 1,600 U.S. jobs if the production tax credit expires. Actually, Vestas employs 3,500 people in the United States.

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