For the first time, the Inflation Reduction Act of 2022 included place-based federal tax incentives for projects located in “Energy Communities,” which might alter the economic equation of where projects should be located. Storage projects may be eligible for a 10-point increase in the Investment Tax Credit (e.g., from 30% … [continued]
I know, it’s hard to keep track of all these cleantech tax credits. The US is now offering tax credits for solar panels, solar cells, electric cars, batteries, wind turbines, heat pumps, and more. The Inflation Reduction Act created some new ones, extended others, and is stimulating a lot more … [continued]
Extending investment tax credits (ITC) and production tax credits (PTC) through 2050 for renewable electricity generation increases annual U.S. solar generation by 10%, according to our alternative policy analysis, Annual Energy Outlook 2022: Extended and Sunset Tax Credit Cases. Long-term availability of federal tax credits provides an incentive for more small-scale distributed generation in homes and … [continued]
The 30 Million Solar plan would create 1.77 million jobs and save utility customers billions.
A group of 20 US Senate Democrats have called for the extension of clean energy tax incentives such as the wind energy Production Tax Credit (PTC), the solar Investment Tax Credit (ITC), and the residential renewable energy tax credit, a call which has been applauded and joined by the country’s clean energy associations.
Federal subsidies for renewable energy—including biofuels for transportation use and renewable generation of electricity—dropped to $6.7 billion in fiscal year (FY) 2016, a 56% decline from FY 2013. Renewable subsidies in FY 2010 and FY 2013 were approximately $15 billion, more than double FY 2016 levels, as support from the American Recovery and Reinvestment Act of 2009 (ARRA) lessened. Despite the decline, renewable energy continued to receive a large share of total federal energy subsidies, accounting for 46% of the FY 2016 total.
Note: We’re trying to get back into helping homeowners who want to go solar and who want to switch to an electric car. That was a core of our work in the past, and I think it’s one of the most valuable things we can do for consumers and to … [continued]
With the lifting of the US crude oil export ban, domestic oil producers are gearing up for another growth spurt, but clean power may win out after all.
The US Government has approved an additional five years for the Investment Tax Credit and Production Tax Credit, benefiting wind and solar developers. US Governments Returns Support to Wind and Solar After many long months of deliberations and lobbying, the US Congress has approved a five-year extension to the hugely … [continued]
Originally published on the ECOreport. Less than one week after the strongest climate agreement ever, House Speaker Paul Ryan has brought forward a spending package that could end the annual struggle over renewable tax incentives. Wind and solar would receive 5-year extensions. The price: cutbacks to the IRS, Obamacare, the EPA, and lift … [continued]
