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End of tax credits for wind and solar, ban for companies from countries of concern.

This act changes tax credit rules for renewable energy. Citizens might notice that after 2030, new wind and solar projects will no longer receive tax support. Additionally, companies connected to China, Russia, Iran, or North Korea will lose access to all clean energy tax benefits, which could impact the availability and costs of certain technologies.
Key points
Tax credits for wind and solar energy production and investment will end for projects starting after December 31, 2030.
Companies connected to China, Russia, Iran, or North Korea will lose eligibility for all clean energy tax benefits.
Changes regarding wind and solar tax credits will take effect on January 1, 2026.
Denial of benefits for companies from countries of concern will apply after specific guidance is issued by the Treasury Secretary.
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Additional Information
Print number: 119_HR_3291
Sponsor: Rep. Kiggans, Jennifer A. [R-VA-2]
Process start date: 2025-05-08