Wind Production Tax Credit cliff (2012-2013)
Congress let the renewable electricity production tax credit expire at the end of 2012. Developers rushed projects through before the deadline, then new wind installations collapsed by about 92% in 2013, from roughly 13 gigawatts to about 1 gigawatt.
The industry shed thousands of jobs; several turbine component factories closed or paused production.
Congress later retroactively extended the credit, but each lapse produced boom-bust cycles, exposing wind's deep dependence on Washington.
In 2026 the pattern has reversed: wind and solar hit records while the federal government actively opposes them, showing how far the market has moved beyond policy support.
