Tax Bill Largely Preserves Incentives For Wind And Solar Power

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Publish Date:
December 16, 2017
Author(s):
  • Plumer, Brad
Source:
The New York Times
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Summary

The final text of the Republican tax bill made public Friday largely preserves key tax credits for wind and solar power and electric vehicles, reversing language in earlier versions that could have slowed the growth of renewable energy across the United States.

The last-minute changes, made as lawmakers reconciled the House and Senate versions of the tax legislation, reflect the growing political clout of the wind and solar industries, which now provide more than 7 percent of the nation’s electricity and are two of the fastest-growing energy sources.

“As wind and solar projects have soared in the U.S., in both red and blue states, so has the industry’s influence in Washington, D.C., on both sides of the aisle,” said Dan W. Reicher, director of the Center for Energy Policy and Finance at Stanford.

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