Colorado wind power capacity is set to grow by 26% before the year ends. The American Wind Energy Association states that with current development plans, the states totally capacity for wind power will grow from 1,805 megawattts to 2,272 megawatts. This energy output would provide enough power to support 568,000 homes.
Xcel Energy opened two new wind farms on October 22nd, Limon I and Limon II. President and CEO of Xcel’s Colorado subsidiary, Public Service Co. of Colorado, David Eves said, “They offer some of the lowest-priced wind energy we’ve seen. And they demonstrate that renewable energy can compete on an economic basis with more traditional forms of generation fuel. They also help us meet the state’s Renewable Energy Standard at a very reasonable cost to our customers.”
This surge of wind powered energy generation stems from the Production Tax Credit (PTC), which is set to expire at the end of this year. Wind farm operators are in a hurry to become operational before the end of the year because they risk losing the assistance of the PTC, which pays $22 for every megawatt hour of energy generated.
President Barack Obama has said he supports extending the tax credit while Gov. Mitt Romney has said he favors letting the credit expire as scheduled. If you are interested in more information about The Election's Impact on Natural Resources Law and Policy, attend a free event by the same name taking place at DU’s College of Law on November 13th!
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