What Is A Production Tax Credit?

- September 6, 2010, 5:02 pm

The Production Tax Credit (PTC) was originally authorized by the Energy Policy Act of 1992 to provide a 10-year, inflation-adjusted tax credit based on the energy produced by qualified wind, solar, geothermal, open and closed-loop bioenergy using dedicated energy crops and small hydroelectric projects, among other technologies. Since the EPA was passed in 1992, the PTC has been renewed several times since the original legislation. Generally, wind and closed-loop geothermal projects continue to receive the entire credit of $21/MWh, as of 2009, while other eligible technologies receive half the credit. Additionally, the PTC continue to require the sale of electricity to an unrelated party, and limitations related to eligibility with other public sector grants, tax-exempt bonds, and other

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