"Senate Tax Bill Brings Good News for Renewables"

"Unlike the House bill, the Senate’s proposal keeps renewable tax credits in place."

"After the the House’s version of a tax overhaul bill slashed clean energy credits, the industry expressed widespread anxiety. But the Senate’s draft mostly spares incentives for clean energy projects.

The House bill proposed slashing the Production Tax Credit (PTC) for wind by over a third. It also eliminates a $7,500 credit for electric-vehicle purchases. The solar industry would see an end to the Investment Tax Credit after 2027 for commercial and utility-scale solar projects, and an end to the 10 percent credit for residential projects (which is already set to expire in 2021). Under current law, commercial projects would still benefit from a 10 percent tax credit after 2021.

The bill does extend a $6 billion nuclear credit to benefit the one nuclear project now underway, Georgia’s Vogtle plant."

Emma Foehringer Merchant reports for Greentech Media November 10, 2017.

Source: Greentech Media, 11/14/2017