COPENHAGEN, June 10 The head of the world's
biggest wind turbine maker, Vestas, said on Sunday that
the U.S. wind turbine market is likely to fall by 80 percent
next year because of the expected expiry of an important tax
The U.S. production tax credit (PTC) for renewable energy
investment is due to expire at the end of this year, and, in an
election year, it is widely believed that Congress will not pass
legislation to renew it before the expiry.
"In the United States, the market this year is very, very
busy," Vestas Chief Executive Ditlev Engel told a gathering of
EU European affairs ministers and other senior officials at
Vestas' research and development centre.
"But because of the potential lapse of the regulatory
framework in the U.S., this market will probably go down 80
percent next year," he said.
That view of the potential for a steep drop was in line with
analysts' estimates cited earlier by Vestas, including in
material provided to shareholders before the annual general
meeting in March.
But Engel's remarks made it clearer than ever that the
company now also sees that as the likely scenario.