STRONG MOMENTUM AND FAVORABLE ENVIRONMENT
The significant regulatory progress in the United States and the European Union provides a strong boost for wind energy, making IBERDROLA RENOVABLES the principal driver of economic recovery in those markets.
The main regulatory progress seen in 2008 was the following:
UNITED STATES: STIMULUS BILL
In February 2009, US President Barack Obama, signed the Stimulus Bill, a package of measures calculated to revitalize the economy, which includes an extension of PTCs (Production Tax Credits) through 2012 for wind energy facilities, the conversion of such credits into ITC (Investment Tax Credits), at the option of investors, and the creation of federal funds managed by the US Energy Department to promote the development of renewable energy and transmission lines.
These regulations, particularly as regards the possibility of monetization of tax credits, will determine the speed at which the
The main regulatory progress seen in 2008 was the following:
UNITED STATES: STIMULUS BILL
In February 2009, US President Barack Obama, signed the Stimulus Bill, a package of measures calculated to revitalize the economy, which includes an extension of PTCs (Production Tax Credits) through 2012 for wind energy facilities, the conversion of such credits into ITC (Investment Tax Credits), at the option of investors, and the creation of federal funds managed by the US Energy Department to promote the development of renewable energy and transmission lines.
These regulations, particularly as regards the possibility of monetization of tax credits, will determine the speed at which the
Klondike wind farm (United States)
wind energy market will develop in the United States.
In addition, progress will be made in 2009 in the passage of the Energy Bill through Congress; the bill will foreseeably include a federal RPS (Renewable Portfolio Standard) system, based on certificates of origin, which will provide the final boost for the development of wind energy in the United States.
In addition, progress will be made in 2009 in the passage of the Energy Bill through Congress; the bill will foreseeably include a federal RPS (Renewable Portfolio Standard) system, based on certificates of origin, which will provide the final boost for the development of wind energy in the United States.
