WASHINGTON The U.S. House of Representatives on Thursday approved a pair of gun control bills as Democrats seized upon a shifting political landscape that…
Thursday, February 11, 2021
The US House of Representatives Committee on Ways and Means has reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, which aims to extend tax credits for renewable energy and carbon capture projects. If passed, the GREEN Act would build upon and boost the extended tax benefits to renewables that Congress passed in the stimulus package at the end of 2020.
According to the proposed legislation from Representative Mike Thompson (D-Calif.), the GREEN Act would reinstate and extend the solar investment tax credit (ITC) to 30% for projects that begin construction after 2020 and before 2027, then phase down to 26% for projects that begin construction in 2027, 22% for projects that begin construction in 2028 and 10% thereafter. The new offshore wind ITC would also be extended one year, for projects that begin construction prior to the end of 2026. The proposed legislation also adds certain storage technologies to the list of elig
The US House of Representatives Committee on Ways and Means has reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, which aims to extend tax credits for renewable.
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