Tax Bill Largely Preserves Incentives for Wind and Solar Power

Tax Bill Largely Preserves Incentives for Wind and Solar Power
WASHINGTON — 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.
A new report from GTM Research and the Solar Energy Industries Association found
that solar installations in the United States had declined this fall, in part because of “political uncertainty.” In addition to the tax bill, the Trump administration is contemplating new tariffs on solar imports that could raise the price of photovoltaic panels
While some industry groups said they still had concerns about a technical change in the final bill
that could negatively affect a key financing tool used for wind and solar projects, they expressed relief that most of the major incentives for renewable energy had survived the negotiations.
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.
The initial version of the House tax bill, passed in November, would have scaled back tax credits for wind
and solar power, as well as those for electric vehicles.