Originally published on RMI.org. By Uday Varadarajan, David Posner, Sam Mardell, & Russell Mendell According to the latest US government inventory, solar will account for 39 percent of the electric generation capacity added in 2021, and wind will constitute a further 31 percent. With current technology costs and policy incentives, renewables are now unquestionably … [continued]
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.
During the confirmation hearing for President Donald Trump’s nominee for Treasury Secretary, Steven Mnuchin gave some hope to the US wind industry when he confirmed he was in favor of leaving the phaseout for the wind Production Tax Credit as it currently stands.
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]
The US Senate voted Tuesday to extend the Production Tax Credit for the US wind industry for another year. Sadly, for the wind industry, Congress has been debating this so long that “another year” finishes at the end of 2014. “Unfortunately, the extension to the end of 2014 will only allow … [continued]
The US Internal Revenue Service (IRS) has finally clarified rules regarding how wind projects qualify for federal tax incentives, leading analysts to believe that the industry can finally extract itself from the uncertain log-jam it has been in since the end of 2013. Developers were forced to initiate construction by … [continued]
Originally published on ClimateProgress by Ryan Koronowski The U.S. House of Representatives has already gone on vacation back to their districts and the Senate effectively adjourned for 2013 on Friday, meaning that the one-year extension of the Wind Production Tax Credit (PTC) will expire on January 1, 2014. The PTC is a $0.022 per … [continued]
