EnergyWatch

American renewables organizations sound the alarm

If there are no changes to the tax reform adopted by the US Senate over the weekend, it will result in "huge instability and uncertainty", says the American renewables industry.

VE-organisationer håber at de kan få republikanske senatorer til at ændre i det skatteforslag, der lørdag blev vedtaget. Evt. Chuck Grassley fra Iowa, hvor Vestas kort før afstemningen annoncerede en ny ordre. | Photo: /ritzau/AP/J. Scott Applewhite

The solar and wind industry in the US has been thrown into uncertainty. Saturday night, a small majority of the Senate adopted a tax reform, which introduces several elements that could fundamentally risk eroding investments in renewables. Even though the proposal does not directly wind down the PTC scheme and Safe Harbor provision, as does the proposal from the House of Representatives.

The risks in the close-to 500-page bill have been popping up over the past week. First, there was a proposal intended to prevent companies from participating in tax speculation, the BEAT provision, which will make it tougher for authorities to deliver the tax credits which are the essence of the US renewables regime. Since then, there was the addition of a minimum tax, AMT, which would also have the same effect.

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