As the Production Tax Credit winds down, along with the last opportunity to safe-harbor wind turbines at 40 percent in 2019, wind development is now poised for its next phase of growth. This growth will look different than what we are used to. A new mix of factors — some familiar, others more nascent — will determine the value of wind energy without the tax equity subsidy. Project developers will need to create a new formula to calculate costs and value in a post-PTC environment.