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The United States of Amurka, in all its collective wisdom, has extended the Production Tax Credit given to windpower for another year.

Vestas, Gamesa Rise After U.S. Extends Wind-Power Tax Break (bloomberg version)

The markets have reacted favorably, even though significant damage has already been done by not extending it 6 months ago, or earlier. I can not write how much of the supply chain has been decimated already, not to mention the hits to major US OEMs.

Vestas is even saying that the extension will have little effect on its current 2013 output projection of 5 GW globally.

This one year extension could perhaps add another 4- 8 GW to the ridiculously low projection of 1.5 GW for 2013, accent on the 4 GW side. The extension will only be effective if sometime in the next two quarters, it is extended further, or something similar put in place. Period.

Concurrently, the industry is still under attack in Yurp as well.

"Life shrinks or expands in proportion to one's courage." - Anas Nin

by Crazy Horse on Wed Jan 2nd, 2013 at 02:29:12 PM EST

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