INDUSTRY NEWS

摘要

The U.S. House and Senate passed a $1.1 trillion spending bill that included tax credits for wind and solar power projects, and the President is expected to sign it into law. The House voted 316-113 to approve the 2016 spending package, and the Senate followed with a 65-33 vote. The package included a retroactive five-year extension on the wind Production Tax Credit (PTC) and the solar Investment Tax Credit (ITC). The PTC gives wind developers a credit of $0,023 per kilowatt-hour for electricity generated to the grid. After that, the credit will maintain its level through 2016 and phase down at 80 percent of its present value in 2017, 60 percent in 2018, and 40 percent in 2019. Projects must begin construction before the end of year in order to qualify.