Bill Introduced to Extend ITC for Five Years

Thursday, July 25, 2019 - 4:15pm

The renewable energy investment tax credit (ITC) would be extended five years under legislation introduced today in both the House of Representatives and the Senate. The Renewable Energy Extension Act of 2019 would provide a five-year extension for both the ITC and the Section 25D tax credit for residential energy-efficient property. Barring a change, the ITC will begin a phasedown from 30 percent at the end of this year to a permanent 10 percent in 2022. Rep. Mike Thompson, D-Calif. introduced the bill in the House with two Republican co-sponsors, while Sen. Catherine Cortez Masto, D-Nev., was the sponsor in the Senate, with 14 Democrat co-sponsors.