[ exact phrase in "" • results by date ]

[ Google-powered • results by relevance ]


News Home

Subscribe to RSS feed

Add NWW headlines to your site (click here)

Sign up for daily updates

Keep Wind Watch online and independent!

Selected Documents

All Documents

Research Links


Press Releases


Publications & Products

Photos & Graphics


Allied Groups

Trump administration helps wind and solar projects delayed by pandemic  

Credit:  Reporting by Nichola Groom; Editing by Sonya Hepinstall | Reuters | May 28, 2020 | www.reuters.com ~~

The Trump administration is giving solar and wind energy projects more time to qualify for generous federal tax credits, delivering a reprieve to renewable energy developers struggling with delays caused by the novel coronavirus pandemic.

The move was welcomed by wind and solar advocates, who have been lobbying since March for federal help to avoid project setbacks and to keep financing flowing. The tax credits have been critical to making renewable energy competitive with electricity from fossil fuels.

Late on Wednesday, the Internal Revenue Service issued a notice saying it would give wind projects started in 2016 or 2017 an additional year, until the end of 2021, to bring their projects online and still qualify for a tax credit for every kilowatt-hour of electricity produced.

The credit is worth 2.5 cents per kWh for projects started in 2016 and 2 cents per kWh for those that began in 2017, stepping down further in subsequent years. Developers must show there is continuous construction in order to claim the level of credit available in the year they broke ground.

For solar, companies that paid for equipment in late 2019 but were unable to take delivery of it within a 3-and-a-half-month deadline now have until October 15 of this year to qualify for the sector’s highest level of subsidy.

The solar tax credit was worth 30% of the value of the project in 2019 for projects that started construction that year. It dropped down to 26% this year.

The full subsidy was available to firms that spend 5% of a project’s capital cost by the end of 2019.

While renewable energy lobbying groups cheered the deadline extensions, they said they still would like to see Congress allow the credits to be converted to cash.

Source:  Reporting by Nichola Groom; Editing by Sonya Hepinstall | Reuters | May 28, 2020 | www.reuters.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

Wind Watch relies entirely
on User Funding
Donate $5 PayPal Donate


News Watch Home

Get the Facts Follow Wind Watch on Twitter

Wind Watch on Facebook


© National Wind Watch, Inc.
Use of copyrighted material adheres to Fair Use.
"Wind Watch" is a registered trademark.