Extension of PTC Sunset Date. ARRA extends the production tax credit (“PTC”) for wind energy projects from December 31, 2009 through December 31, 2012. To qualify for the PTC under the Act, a wind energy project must be “placed in service” on or before that date. ARRA did not change the basic operation or calculation of the PTC for wind energy projects. Thus, any qualifying project that meets the placed-in-service requirement will qualify for a credit (indexed for inflation) per kilowatt hour of electricity generated and sold to an unrelated person during each year of the 10-year period beginning on the date the project is originally placed in service. The amount of the credit is 2.1¢ per kilowatt hour for 2009.
Benson, David, Greg Jenner, and Debra Frimerman. SHOW ME THE MONEY: The Law Of The Stimulus Package. 2009.