We’re dreaming of a Green Christmas!
The U.S. solar and wind power industries will mark the holidays with heightened spirits after receiving multiyear extensions of their coveted renewable energy tax credits from a divided Congress.
On Friday, the House and Senate agreed by significant margins to grant extensions to the 30 percent investment tax credit (ITC) for solar energy and the 2.3-cent-per-kilowatt-hour production tax credit (PTC) for wind power.
The current 30% level remaining until 2019. Legislation has been passed to Congress that would also introduce a lower 10% rate to follow on beyond 2022.
According to the proposals, it will fall to 26% the following year and 22% in 2021 before remaining permanently at 10% thereafter.
Read more at the Scientific American.
