Wind Energy's Tax Break Still Spins In Debate
Stanford Law Professor Dan Reicher is quoted in Jennifer A. Dlouhy's Houston Chronicle article, proposing an alternative to ending a tax credit for the wind energy industry.
Wind energy advocates on Wednesday pleaded with Congress to renew a tax break they credit with sending turbines spinning across the U.S., amid opposition from critics who insist the industry no longer needs the help.
The diverse views were delivered during a House Oversight subcommittee hearing on the production tax credit, which allows project owners to reduce tax bills by 2.3 cents for every kilowatt-hour of electricity they produce over a 10-year period.
But there's another option, said Dan Reicher, director of Stanford University's Steyer-Taylor Center for Energy Policy and Finance.
Reicher said the best option is to slowly phase out the production tax credit while giving renewable power projects the ability to qualify for master limited partnerships and real estate investment trusts that offer unique tax treatment.