EnergyWatch

Republicans in US Senate oppose phasing out PTC

When the Vestas share took a dive last week due to concerns about deterioration of the US tax scheme for wind, it may have been in vain. Trendsetting Republican senators are now going against Trump's opposition of the PTC.

Photo: Frank Boutrup Schmidt/Vestas

Several Republican members of the US Senate Finance Committee have stated their opposition against phasing down the key tax credit PTC which goes to fields including wind power on the US market, reports Bloomberg, citing Senate discussions about the ongoing debate for tax reforms.

This comes as good news for Vestas, which took a major dive last Friday when it emerged that a big reduction of the PTC scheme was included in the proposal for tax reform in the US House of Representatives.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs