IRS doubles the time wind industry can receive subsidies

Published May 6, 2016 5:22pm ET



The Obama administration on Friday doubled the amount of time wind energy companies have to take advantage of a key tax subsidy, which critics blasted as undermining a landmark deal last year to phase out the renewable energy credits.

The Internal Revenue Service extended the number of years wind projects can take advantage of the maximum level of subsidy, from two to four years, under a “commence construction” clause in the tax code.

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