Talk:Production tax credit: Difference between revisions

Revision as of 18:54, 11 August 2022 (view source) Wikiros (talk \| contribs) ("inflation reduction act")		Latest revision as of 13:35, 13 August 2022 (view source) Wikiros (talk \| contribs) (Blanked the page) Tag: Blanking
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	In August 2022, the Senate voted to extend them for onshore projects starting construction before January 1, 2025.<ref>https://www.congress.gov/bill/117th-congress/house-bill/5376/text</ref> The credit was reduced to one-fifth, however, unless a project pays prevailing wages and hires a certain number of apprentices (at least 1 if 4 or more employees, then 10% in 2022, 12.5% in 2023, and then 15%). The credit can be increased by 10% (20% for offshore) if all of the components and their materials are produced in the USA (unless that would increase the cost more than 25% or they are not available in sufficient quantity or quality). A further 10% increase is available for projects in brownfields or areas with at least 0.17% employment in or 25% of tax revenues from coal, oil, or natural gas and with unemployment at or above the national average or a closed coal mine or power plant (since 2000 or 2010, respectively). A 10% percent is also available for projects in low-income or Indian communities or as part of low-income benefit project.

	~~It appears, however, that these provisions apply only to projects of less than 1 MW, or 5 MW in the case of low-income benefit.~~

Latest revision as of 13:35, 13 August 2022