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Additional Policies Needed to Achieve Carbon-Free Electricity by 2035 Published Apr 29, 2021 As Congress considers legislation that would extend and expand tax credits for the development of low- and zero-carbon energy, a new analysis by the Union of Concerned Scientists (UCS) compares how the various incentives would help fight climate change by reducing carbon emissions from the U.S. power sector. “We found that federal tax credits are an effective tool and smart investment for boosting the deployment of renewable electricity that will provide health and economic benefits acros...

BLAINE, Minn. /Massachusetts Newswire – National News/ — The ‘Growing Renewable Energy and Efficiency Now’ (GREEN) Act aims to extend and boost tax incentives for energy efficiency and renewable energy. According to Alex Bagne, the President of ICS Tax, LLC, “If passed, the GREEN Act would make both the 45L Energy Efficient Home Credit (45L Credit) and the 179D Energy Efficient Commercial Building Deduction (179D Deduction) more advantageous while furthering the green missions of these incentives.” THE 45L ENERGY EFFICIENT HOME CREDIT Currently, the 45L Credit allows eligible deve...

To embed, copy and paste the code into your website or blog: As the 117th Congress works to enact legislation implementing President Biden’s “Build Back Better Recovery Plan,” extending and expanding current renewable energy tax incentives will be an integral part of the discussion. President Biden has supported use of tax credits to increase renewable energy generation which is crucial to meeting his goal of a decarbonized electric grid by 2035 and carbon neutrality by 2050. Because of this support, it is likely that infrastructure legislation will extend the Production Tax Credit (PTC...

To embed, copy and paste the code into your website or blog: On February 5, 2021, House Democrats reintroduced the GREEN Act, seeking to both extend federal tax credits for renewable energy projects and expand those incentives to include new energy storage technology. The goal: climate change mitigation. The GREEN Act, which stands for Growing Renewable Energy and Efficiency Now, would achieve this by: extending the Investment Tax Credit (ITC) for solar energy at 30% through 2025 before phasing down to 26% in 2026, 22% in 2027 and then 10% from there; extending the 30% investment tax credit f...

What Happened: $7,000 of tax credit may soon be given to hundreds of thousands more U.S. electric vehicle buyers with a potential overhaul of purchasing ...