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Federal Report: ITC, PTC Claimed Dropped from 2013 to 2016

Monday, April 30, 2018 - 1:15PM

The amount claimed using the federal renewable energy production tax credit (PTC) and investment tax credit (ITC) declined from 2013 to 2016, according to a report from the U.S. Energy Information Administration. The report, “Direct Federal Financial Interventions and Subsidies in Energy in Fiscal Year 2016,” stated that energy subsidies dropped from $15.5 billion to $6.7 billion from fiscal year 2013 to fiscal year 2016, with the ITC falling from $2.0 billion to $1.4 billion and the PTC dropping from $1.7 billion to $1.4 billion. The report found the decrease was largely a result of the expiration of the Section 1603 grant program.

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