The White House has said renewables are still key to its budget reconciliation bill despite rumours of the investment tax credit (ITC) being modified as opposition to the bill by senators Manchin and Sinema continue
The US House of Representatives has finally unveiled proposals which would extend the Solar Investment Tax Credit (ITC) for 10 years at 30%, but only for projects meeting certain labour conditions.
The US’ fleet of solar and wind generation capacity is set to almost triple over the next decade, but even this is not enough to meet President Biden’s ambitious decarbonisation targets, according to a recent BloombergNEF report.
On 1 January this year, the solar investment tax credit, responsible for fuelling the rapid growth of the US market, began its decline. Cecilia Keating assesses what impact it will have.
Attempts have failed to include an extension of the solar Investment Tax Credit in a significant stimulus package adopted in the US to shelter the economy against the ongoing COVID-19 crisis.
