Solar Energy

December 4, 2017

Clean Energy Leaders Fear Brutal Impact on Renewable Growth As US Tax Reform Takes Shape

In the early morning hours of Dec 2, lawmakers in the U.S. Senate passed their version of a tax reform bill. Unlike the version of the bill passed by the U.S. House of Representatives, the Senate bill makes no changes to the Investment Tax Credit (ITC) and the Production Tax Credit (PTC), on which wind and solar energy developers rely to help finance projects. However, the bill makes changes to the way corporations can use tax equity, in a provision called BEAT (base erosion and anti-abuse tax), which stakeholders fear will result in a significant loss of tax equity finance available on the market. 

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