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President Biden signed the Inflation Reduction Act (IRA) into law in 2022. The IRA is the largest public investments in renewable energy in American history and created more than 20 […]
The post How the Presidential Election Could Impact Renewable Energy Tax Credits appeared first on POWER Magazine.
Renewable energy project developers now have important clarification about the transferability of clean energy tax credits, as the U.S. Treasury Dept. and the Internal Revenue Service (IRS) released final rules […]
The post Feds Release Final Rules on Clean Energy Tax Credits appeared first on POWER Magazine.
The post ‘GREEN Act of 2019’ Extends Tax Credits for Renewables appeared first on POWER Magazine.
The Ways and Means Committee of the U.S. House of Representatives on Nov. 19 released a draft tax package for clean energy projects that includes a five-year extension of the 30% solar Investment Tax Credit (ITC), along with new incentives for energy storage.
The legislation also supports incentives for electric vehicles (EVs), offshore and onshore wind farms, and energy efficiency measures, among other items.
“This bill will build on existing tax incentives that promote renewable energy and increase efficiency and create new models for technology and activity to reduce our carbon footprint,” Mike Thompson (D-Calif.), chairman of the Subcommittee on Select Revenue Measures, said in a statement Tuesday.
Critics of the package include six groups—Americans for Tax Reform, Americans for Prosperity, the Center for a Free Economy, FreedomWorks, Heritage Action, and the National Taxpayers Union. Those groups earlier Tuesday shared a letter and asked lawmakers not to extend tax credits or give more support for renewable energy, saying phaseouts of credits adopted in 2015 should be continued.…
Operators of the Columbia Generating Station have set a new generation record at the nuclear plant 12 miles north of Richland, Wash., sending more than 9.7 million MWh to the Pacific Northwest power grid during 2018.
The single 1,207-MW single GE-built Mark-2 boiling water reactor that is owned and operated by Energy Northwest—which comprises 26 public power member utilities across Washington state—has set new generation records five out of the past seven years.
Because the plant consistently surpassed generation records set first in 2012 (9.3 TWh), then in 2014 (9.5 TWh), and again in 2016 (9.6 TWh), the plant was a POWER magazine Top Plant in 2017. The plant won the award also due in part to an operations overhaul that began in 2009, when Columbia suffered a series of scrams that landed it on the Nuclear Regulatory Commission’s (NRC’s) radar, and led it to vastly improve its performance.
The company said in a Jan.…