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Renewable Energy Tax Credit News Briefs – January 2018

The Solar Energy Industries Association (SEIA) released Dec. 4, 2017, “America First Plan for Solar Energy.” The blueprint recommends steps that President Donald Trump can take to maintain the solar industry’s growth. The plan is designed to make America first in manufacturing, national security and solar job growth. SEIA recommends the president reject tariffs; support the U.S. military and national security by standing for stable, affordable energy prices; allow the solar market to continue going strong and offer well-paying jobs; not bail out failed foreign firms; and make America first. President Trump has until Jan. 26 to make a decision on whether to accept or reject SEIA’s blueprint proposals.

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U.S. Sen. Lamar Alexander, R-Tenn., spoke on the Senate floor Nov. 14, 2017, about tax reform and suggested Congress should end the wind production tax credit (PTC) at the end of 2017. He said that Congress has recognized the need to end the wind PTC by passing legislation to phase out the credit by 2020. Alexander said that from 2008 to 2015, the wind PTC cost taxpayers $9.6 billion and that despite the billions Congress has provided in subsidies, wind energy still only produces 6 percent of the country’s electricity and 17 percent of the country’s carbon-free electricity. He challenged his colleagues to consider all energy subsidies for mature technologies–wind, solar, oil and gas–as candidates for elimination in a tax reform bill and said those dollars could be better spent to lower rates for taxpayers.

Journal Category:

Renewable Energy Tax Credits

Authors:

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