Extensions Benefit Kansas and Oklahoma Wind Energy Projects

Researched by Industrial Info Resources (Sugar Land, Texas)--Kansas and Oklahoma have some of the best wind resources in the lower 48 states and continue to develop wind energy projects. The extension of the federal production tax credit (PTC) and the investment tax credit (ITC) is big news for renewable energy developers and will create a better environment in order to advance renewable energy projects such as wind and solar. While the ITC will ramp down each year through 2024, the PTC will ramp down until it expires in 2019, giving renewable energy developers ample time to get financing and projects under way.

The extensions give the renewable wind and solar industry additional time to continue its downward trajectory in cost per kilowatt hour in order to compete with conventional generation sources as well as giving the industry some predictability for a few years.

Oklahoma currently gets about 17% of its generation from wind resources, but that figure could increase significantly by the end of the tax credit extensions. The state has the potential to produce more than 360,000 megawatts (MW) of wind generated power according to the U.S. Department of Energy (DOE) (Washington D.C.).

Kansas currently derives about 22% of its generation from wind resources, but the state has the potential to produce more than 485,000 MW of wind generated power, according to the U.S. Department of Energy.

Industrial Info is tracking 34 wind projects in Kansas and Oklahoma valued at $11.9 billion, with 22 wind projects in Oklahoma valued at $6.9 billion, and 12 projects in Kansas valued at $5 billion.

In Kansas, four wind projects are scheduled to start construction in 2016. In Oklahoma, eight wind projects are scheduled to start construction this year.

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com/.