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Repeal of Renewable Energy Tax Credits

This bill proposes to eliminate two key tax credits that currently support the production of electricity from renewable sources and investments in energy projects. This means that companies in the renewable energy sector may lose existing financial support, which could impact energy costs and the development of new projects.
Key points
Ends the production tax credit for electricity generated from renewable resources (e.g., wind, solar) for electricity produced and sold after December 31, 2021.
Ends the investment tax credit for energy projects (e.g., building solar power plants) for taxable years beginning after December 31, 2021.
These changes may affect the profitability of renewable energy investments and potentially energy prices for consumers.
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Additional Information
Print number: 117_HR_6644
Sponsor: Rep. Perry, Scott [R-PA-10]
Process start date: 2022-02-08