TodayEco.com

08 Oct '12, 3pm

Jobs Blow Away as Congress Fails to Act on Wind Energy

Jobs Blow Away as Congress Fails to Act on Wind Energy

Leeco had 50 employees when it started selling 7 ton steel plates to wind-tower makers in 2004. It now has 125, and wind accounts for about 40 percent of the Lisle, Illinois-based company’s business. “We’ve done extremely well,” John Purcell, Leeco’s vice president for wind energy, said in an interview. Leeco is a unit of O’Neal Industries, a metals-service company based in Birmingham, Alabama. Now a different sort of economic crisis is looming over the industry. A tax credit fueling wind’s growth expires at the end of this year unless Congress votes to extend it. Wind-energy companies get 2.2 cents for every kilowatt-hour produced, shaving as much as one-third off the costs. Fearing the loss of a subsidy that helps them compete with cheaper natural gas, some wind companies including a U.S. unit of Siemens AG (SIE) are already cutting jobs, adding urgency to a lobbying pus...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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