06 Nov '17, 7pm

House Tax Proposal Unsettles the US Wind Industry

House Tax Proposal Unsettles the US Wind Industry

Republicans in the U.S. House of Representatives presented their proposed tax reform bill last week -- the opening volley in legislative and executive efforts to pass a comprehensive tax reform package. While the reform package that ultimately passes into law will require Senate approval, the House bill proposes worrying changes to the Production Tax Credit (PTC) for wind power that immediately destabilizes tax equity, 80-20 repowering efforts and 80 percent PTC value safe-harboring of turbines, and threatens to severely curtail the upcoming four-year installation forecast if the bill becomes law. Senate unlikely to agree on PTC measures The odds for the passage of this draft bill and its wind provisions into law are long, as the Senate is highly unlikely to allow any reform bill to impose such Draconian reforms on the wind power market. Senator Chuck Grassley (R-Iowa), au...

Full article: https://www.greentechmedia.com/articles/read/house-tax-pr...

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