Bellevue, Wash.-based utility Puget Sound Energy (PSE) and Rep. Jim McDermott, D-Wash., recently worked together to adjust how the U.S. Department of the Treasury interprets tax laws on renewable energy production. This amendment eliminates the utility exemption in the wind production tax credit (PTC) provision.
‘By treating both utilities and independent power producers equally, this interpretation of the tax code will make it possible for utilities to own and operate more renewable energy sources,’ says Kimberly Harris, executive vice president and chief resource officer of PSE. ‘This action by the Treasury is the right step for the consumer and for meeting the challenge of climate change.’
PSE owns and operates the Wild Horse Wind and Solar Facility in Kittitas County, Wash., and the Hopkins Ridge Wind Facility in Columbia County, Wash.
SOURCE: Puget Sound Energy