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Report Says ITC, PTC Will Add $23B to 2017 U.S. Economy

Wednesday, April 5, 2017 - 12:00PM

A report issued Monday by the Natural Resources Defense Council says the 2015 extensions of the federal renewable energy investment tax credit (ITC) and production tax credit (PTC) will create more than 220,000 jobs and add nearly $23 billion to the economy this year. The report analyzed the impact of the tax credits on employment and gross domestic product gains in 16 states, factoring in both direct investments and spillover effects. The report calls for additional policies to accelerate clean energy deployment beyond 2020, when the ITC and PTC both phase out.

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