Posted by: Windfair Editors
Renewable Energy Tax Credits Extended
Image: PixabayOfficial Press Release Troutman Pepper:
Government Funding Bill Extends Renewable Energy Tax Credits
On December 21, the House and Senate passed H.R. 133, the “Consolidated Appropriations Act, 2021,” with overwhelming support. A video posted on December 22 on Twitter cast doubt on whether the president will sign the bill.
Division EE of the bill, the “Taxpayer Certainty and Disaster Tax Relief Act of 2020,” includes the following tax extenders related to the Production Tax Credit (PTC), the Investment Tax Credit (ITC), and the carbon oxide sequestration credit (the Section 45Q Credit): Extension of the PTC for wind at the current phase-out level (60% of the otherwise allowable credits) for facilities the construction of which begins in 2021. Extension of the ITC for solar at 26% for energy property the construction... ... More: Official Press Release Troutman Pepper
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