PTC Uncertainty Prompts More Wind Industry Layoffs
A wind company with operations in the Pacific Northwest has announced more layoffs this year as the industry prepares for the expiration of tax credits at the end of the year.
Vestas says it will lay off an additional 1,400 employees by the end of the year. The Danish company had already planned to reduce its worldwide workforce by than 2,000 employees. Vestas has a sales and service office in Portland.
Spokesperson Andrew Longeteig says the company is preparing for the possible expiration of the Production Tax Credit and a reduction in profits that would create.
Longeteig: “With a potential large drop off in the market in 2013, we have to look at adjusting our resources.”
Right now wind producers receive a tax credit for each kilowatt-hour of electricity they create. The industry’s trade group, American Wind Energy Association, says that if the tax credit is not extended there could be thousands more layoffs.
Copyright 2012 Northwest Public Radio