Wind Energy Tax Credit Renewal Sparks Development

"The wind energy industry, over the course of the past year has really been calling on Congress to extend the Production Tax Credit, which historically has shown bigger growth in the wind industry each year that it's been renewed," AJ Swope, Executive Director at Class 4 Winds & Renewables said.

And this extension looks a little different than years past. To be eligible for the tax credits, projects must simply have started construction by the year's end. They don't have to be complete to qualify.And according to Swope, new development is on the way.

"The texas CREZ lines that are currently under construction -  It's a huge high voltage system that will encourage wind development throughout the state, but especially here in the Panhandle where we stand to see up to 55 hundred mega watts of additional wind power," Swope said.

As for the end of 2013, there is no telling if the tax credits will be renewed again, but the American Wind Energy Association has actually called for a phase out after six more years.