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Environment & Energy

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Tue Dec 22, 2020, 11:26 AM Dec 2020

Federal stimulus includes wind, solar tax credit extensions, adds first US offshore wind tax credit [View all]

Dive Brief:

Congress on Monday passed another stimulus package as a response to the COVID-19 pandemic.

The package includes extensions on the solar and wind production tax credit (PTC) and investment tax credit (ITC), energy efficiency incentives, research and development "enhancements" for clean energy technologies and more, according to a joint statement from House Speaker Nancy Pelosi, D-Calif., and House Senate Minority Leader Chuck Schumer, D-N.Y.

The relief package is the second implemented this year, and the first to extend aid to the renewable energy industry. It also includes several provisions from the Senate's American Energy Innovation Act, championed by Sens. Lisa Murkowski, R-Alaska, and Joe Manchin, D-W.Va., earlier this year, as well as from the House's companion bill. The inclusion marks the first time in 13 years Congress has passed comprehensive energy policy.

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