House Bill Would Extend ITC for Offshore Wind Projects

Friday, November 1, 2019 - 10:45am

U.S. Reps. Peter King, R-N.Y., and Bill Pascrell, D-N.J., introduced a bill that would extend the renewable energy investment tax credit (ITC) for offshore wind projects. The Offshore Wind Power Act of 2019 (H.R. 4887) is the companion bill to S. 1988, introduced in June. Under the legislation, the ITC for offshore projects would be extended until the latter of 2027 or the year after the U.S. has increased its offshore wind capacity by at least 3,000 megawatts from the capacity on Jan. 1, 2020.