EnergyWatch

New bill proposes tax credit extension for offshore wind

Prominent US politicians propose several new bills to extend tax credit subsidy schemes for solar, onshore and offshore wind. The wind sector shows various degrees of support.

Photo: Michael Dwyer/Ritzau Scanpix

"Nothing is so permanent as a temporary government program." This sardonic quote from US free market-liberal economist Milton Friedman could be construed to have contemporary relevance concerning the question of renewable energy in the US. In any case, a long series of US politicians have proposed new legislation for extending subsidies for solar and wind power.

The US wind industry is currently running red hot precisely because the PTC tax credit scheme is about to fade. In several iterations in its current form, the scheme has awarded tax credits to wind projects since 2015. Now the plan is to gradually phase out the program from the end of 2020, which has led to the current market bustle involving more than 20 GW in expected installations before the cut-off date.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas confirms spread of stolen data

Data from the OEM's IT systems have been stolen and offered to a third party, informs Vestas, which has "reasons to believe" that the leaked data mainly pertains to internal company matters, says CEO.

Further reading

Related articles

Latest News

See all jobs