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IRS Boosts 2013 Renewable-Energy Tax Credit Because of Inflation

The U.S. Internal Revenue Service is increasing the production tax credit available this year for energy generated by wind, geothermal, solar and closed-loop biomass because of inflation.

The credit will increase to 2.3 cents a kilowatt-hour from 2.2 cents, according to a notice in the Federal Register yesterday. The subsidy applies to the 2013 calendar year, according to the IRS.