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U.S. Wind Industry Hangs on IRS Defining ‘Construction’

As U.S. lawmakers drafted a bill extending wind-energy tax credits in August, they revised a key clause that opens the door for a much bigger boost to the industry than just the one-year addition that was eventually passed.

To qualify for the tax credit that made wind energy the largest new source of electricity in 2012, projects must “begin construction” this year, a shift from earlier versions that applied only to projects that were complete and producing electricity before the deadline.