Onshore wind is the largest and cheapest source of renewable power in the U.S. today, but solar is catching up quickly. No one is more aware of that urgent reality than the wind industry itself. Renewables markets long dominated by wind, including Texas, are set for a wave of solar projects over the next few years. Many of the country’s largest wind developers are amassing in-house solar teams. Amid these changes, the American Wind Energy Association (AWEA) trade group announced Tuesday that its flagship annual Windpower conference and exhibition will expand to include solar and storage, starting next year in Denver. Continue reading here.
Photo of a Texas Wind Farm from AWEA’s Free Use Image Gallery.
Tax credits have proven effective in jump-starting energy industries and driving adoption of new technology and infrastructure. However, as credits wind down, the renewable energy industry has been gripped by uncertainty in recent years, with federal legislators approving short-term extensions. Both the chairman and ranking member of the Senate Finance Committee announced a bipartisan initiative on Thursday to craft long-term solutions for the expiring tax breaks, with task forces focused on energy tax credits and disaster tax relief among others. Read more here.
WASHINGTON, D.C. – [Friday], following aggressive advocacy efforts by the Solar Energy Industries Association (SEIA) to ensure the continued growth of the U.S. solar industry, Congress reached an agreement on comprehensive tax reform legislation. Following is a statement from Abigail Ross Hopper, SEIA’s president and CEO:
“After weeks of negotiations, the final tax legislation released today maintains the solar Investment Tax Credits (ITC) for both commercial developers and for homeowners in its current form. This is a great victory for the solar industry and its 260,000 American workers and we commend our bipartisan solar champions in Congress for their diligent efforts to maintain solar’s critical role in America’s economy.
“As an industry, we are pleased that the final version of tax reform legislation protects the Investment Tax Credit, and we look forward to continuing to deliver on our promise of affordable, reliable American energy.”
ADDITIONAL RECOMMENDED READING U.S. renewable energy industry relieved as Republicans keep tax credits, Reuters
The final tax bill retains the production and investment tax credits for wind and solar energy that have spurred investment in the fast-growth industries. It also eliminates the alternative minimum tax, which would have reduced the value of those credits.