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Onshore wind industry investment struggling despite Inflation Reduction Act, analyst says

BY Reuters | ECONOMIC | 11/13/24 10:37 AM EST

HOUSTON, Nov 13 (Reuters) - Onshore wind industry investment is struggling despite the Inflation Reduction Act, Geoffrey Hebertson, lead renewables analyst at Rystad Energy told attendees at an energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City in Dallas, Texas.

Despite the Inflation Reduction Act enabling production tax credits and investment tax credits for the next 10 years, the onshore wind industry is struggling to maintain investment levels, Hebertson said.

"We do expect 2024 to be a historically low year for wind and we do not see over the next few years any implications going forward for that to change," he added.

(Reporting by Georgina McCartney in Houston)

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