The US Senate passed a budget megabill that negatively impacts renewable energy, introducing a rapid cutoff for tax credits for wind and solar projects after 2027. The new legislation could jeopardize hundreds of planned projects across the country. Among the provisions is a tax credit for coal and the sunsetting of electric vehicle tax credits. Concerns were raised about additional burdens on renewable industries, which could lead to increased costs and reduced clean energy supply amidst growing electrification demands.
"This is a bill to punish renewables," says Costa Samaras, a professor of civil and environmental engineering at Carnegie Mellon University. "There is a real need to add clean energy supply to the grid-electrifying our cars, electrifying our homes, electrifying our buildings, electrifying our factories, and the demands from AI are all going to require new clean energy. What this bill does is make it harder and more expensive."
The bill forces an aggressive cutoff for tax credits for wind and solar. The bill ends credits for projects placed in service after 2027, putting hundreds of planned projects around the country in jeopardy.
Collection
[
|
...
]