WIND Act Would Extend ITC through 2025 for Offshore Wind

Thursday, June 27, 2019 - 10:15am

Legislation introduced in both houses of Congress would extend the 30 percent renewable energy investment tax credit (ITC) through 2025 for offshore wind. The Offshore Wind Incentives for New Development (WIND) Act would allow offshore wind projects to receive the ITC if they begin construction before Jan. 1, 2026. The ITC is currently scheduled to phase down to 10 percent in 2022. Six senators co-sponsored the legislation, while Rep. Jim Langevin, D-R.I., sponsored the bill in the House.