House Democrats push for a solar Production Tax Credit in budget package

In advance of a House Ways and Means markup on the budget reconciliation package, Representatives Tom Suozzi, Earl Blumenauer, Ron Kind, Steven Horsford, Dwight Evans, Dan Kildee, Jimmy Panetta, Don Beyer and Nanette Barragan introduced legislation that would allow solar companies to qualify for a full value Production Tax Credit (PTC), which is currently only available for wind and geothermal energy. As members of the chief tax-writing committee, the elected officials are pushing for it be included in the budget reconciliation package.

The legislation is supported by the International Brotherhood of Electrical Workers, the Sierra Club, the Blue Green Alliance the League of Conservation Voters and the Citizens Campaign for the Environment.

Offering a stable PTC for solar energy will incentivize clean energy deployment, allow solar economic growth and create green energy jobs to thrive alongside other carbon-free clean energy technologies. Analysis by The Rhodium Group projects that allowing solar generation the option of a PTC can double the emissions reductions of clean energy tax credits, optimizing their impact.

“Let’s get this in the reconciliation package so we can help make the United States carbon-free by 2035. This legislation makes that goal that much easier to attain,” said Rep. Suozzi.

News item from the office of Representative Tom Suozzi (D-NY)

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Original Source: https://www.solarpowerworldonline.com/2021/09/house-democrats-push-for-production-tax-credit-solar-industry-budget/