Production tax credit: Difference between revisions

In August 2022, they were similarly extended for onshore projects starting construction before January 1, 2025.<ref>https://www.congress.gov/bill/117th-congress/house-bill/5376/text</ref> The 2018 rate 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%). A further 10% credit (20% for offshore) can be claimed 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% credit 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).