Phasing Out Tax Credits for Solar and Wind Energy Production
This bill gradually eliminates tax credits (production and investment credits) for companies generating electricity from solar and wind sources over a four-year period. After the fourth year following enactment, these subsidies will be completely removed, potentially affecting the cost of renewable energy production and, consequently, electricity prices for consumers. These changes apply to taxable years and energy produced after the law's enactment date.
Key points
Tax credits for producing and investing in solar and wind energy will be gradually reduced over four calendar years.
After the fourth calendar year following the law's enactment, these specific tax credits will be completely eliminated (reduced to zero percent).
Companies will no longer be able to transfer (sell) portions of these tax credits if they are related to solar or wind energy.
The changes may impact the financial viability of renewable projects, potentially affecting the nation's energy mix and long-term energy price stability.
Introduced
Citizen Poll