SOURCE: Industrial Info Resources
SUGAR LAND, TX--(Marketwire - Dec 10, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- As the Power Industry moves into 2013, there still is an aura of uncertainty surrounding electric generation utilities. Several regulations and pieces of legislation are still being considered for the upcoming year.
Industrial Info is currently tracking $140 billion to $152 billion in planned project spending for the power sector in 2013, although only about half of this will probably move forward. Projected project fallout is large for some sectors of the Power Industry, while others are expected to see only minor fallout.
The U.S. renewable energy sector is where Industrial Info expects a large amount of project fallout for 2013, much of this being driven by the possible non-renewal of the wind power Production Tax Credit (PTC) by Congress. An extension of the bill would push the incentives out another 12 to 18 months. It was hoped that the extension would be attached to a piece of legislation that would extend tax breaks for different groups. However, so far nothing has moved forward, and it is now speculated the PTC will not be extended until possibly the first quarter of 2013. This will further delay the wind power sector, with the possibility of only about 1,000 megawatts (MW) of wind projects starting construction in 2013.
Small to mid-size solar photovoltaic projects, approximately 1 MW to 50 MW in capacity, will be carrying the renewable sector forward in 2013, although there is a photovoltaic project of more than 2,000 MW planned to kick off construction next year. The delays in this sector are, as usual, financing, permitting and challenges to projects by special interest groups.
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