Tag Archives: California Energy Crisis
Biden’s Offshore Wind Farm Target Will Increase Costs, Reduce Reliability
Congress passed the first temporary production tax credit for wind in 1992 and extended it 13 times since then. The Democrat’s reconciliation package contains about $235 billion in incentives for wind and solar,,, The reconciliation package Build Back Better would make the PTC and investment tax credit direct payments, instead of a tax credit against any taxes owed. That is, renewable energy developers would receive a check from the government for the subsidy. Further, solar, which has long qualified for an investment tax credit but not the production tax credit available to wind, would now qualify for both. The legislation would also restore the PTC and ITC to their original values as follows: >click to read< 14:41
