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Layoffs related with the pending expiration of the PTC

USA
2 Oct 2012
Across the U.S., wind companies have already seen over 3,000 layoffs announced publicly so far, citing the pending expiration of the renewable energy production tax credit (PTC). Navigant Consulting anticipates that 37,000 wind industry jobs will be lost by early 2013 if Congress does not act promptly to extend the PTC.

The PTC helps developers secure private financing for wind projects.  This triggers business orders to companies throughout the supply chain.  Equipped with the PTC, the wind industry has driven over $15 billion of private investments into the U.S. economy in each of the past five years, and has grown the U.S. manufacturing sector to include nearly 500 wind-related facilities. 

As soon as Congress returns to session after the elections, it will need to debate extending the PTC or letting it expire. 

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