First Wind, which is focused on the development, financing, construction, ownership, and operation of utility-scale renewable energy projects in the United States (primarily wind power projects), is one of the top wind power companies that will benefit from the recent decision of the U.S. Congress to keep supporting this nascent but fast-growing energy sector. Following the decision to extend the wind power production tax credit (PTC), First Wind announced that it now “hopes to increase its operating portfolio of wind projects by 50 percent or more.”
“The ambitious effort could mean that thousands of people will be employed building new First Wind projects over the next few years along with millions of dollars in investment and new revenue generated for host communities and others, while delivering cost-competitive clean energy to more homes across the country,” First Wind adds.
The company currently operates 980 megawatts (MW) of wind projects in 6 U.S. states.
I’m sure this is just one of many stories about the benefits of extending the wind power PTC, and I’m sure the PTC is still creating a net benefit for the American public. Furthermore, as we’ve noted plenty of times before, historical subsidies for wind power don’t compare to historical subsidies for competing energy industries (all of which continue to receive subsidies even though many of those subsidies no longer benefit society, but actually harms it). So, I think the wind industry very well deserves this support, and we should all make it very clear to our friends and relatives that this simple wind power subsidy is creating jobs and benefiting our economy!
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