New Energy Supports Saved In Final Tax Bill

Tax Bill Largely Preserves Incentives for Wind and Solar Power

Brad Plumer, December 16, 2017 (Washington Post)

“The final text of the Republican tax bill…largely preserves key tax credits for wind and solar power and electric vehicles, reversing language in earlier versions…The last-minute changes, made as lawmakers reconciled the House and Senate versions of the tax legislation, reflect the growing political clout of the wind and solar industries, which now provide more than 7 percent of the nation’s electricity and are two of the fastest-growing energy sources…[Industry groups] expressed relief [that the scheduled phase out of most of the major incentives for New Energy will remain in place]…When combined with the falling costs of wind turbines and photovoltaic panels, these incentives can make new wind and solar even cheaper than running existing fossil-fuel plants in parts of the country…Several Republican senators, including Charles E. Grassley of Iowa and Dean Heller of Nevada, had [fought for the New Energies]…The American Council on Renewable Energy, an industry trade group, said it ‘remained concerned’ about changes that [could compropmise the roughly two-thirds of wind projects and three-fourths of solar projects in the United States supported by tax-equity financing through multinational investors…” click here for more

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