Washington D.C. – The American Clean Power Association (ACP) released the following statement today after Congress agreed on COVID-19 omnibus legislation that includes targeted renewable energy initiatives, including a one-year extension of the production tax credit/investment tax credit for land-based wind at 60 percent of their full value, a two-year extension of the investment tax credit for solar at 26 percent, and a 30 percent offshore wind investment tax credit for projects that commence construction from January 1, 2017 through December 31, 2025.
“This bipartisan agreement is a major win for American energy consumers, providing more opportunities for them to receive reliable, zero-carbon, and pollution-free electricity in their local communities. We appreciate that Congress has recognized clean energy’s significant contributions to our nation’s economy and role in providing jobs and investments during the recovery from the COVID-19 pandemic. As we enter the new year, stable policy support will help ensure that wind and solar can continue providing the backbone of our country’s electricity growth. We also applaud Congress for recognizing the enormous potential of offshore wind, America’s largest untapped electricity source, as a brand-new provider of jobs for American workers and clean power for American families.” – Heather Zichal, CEO of the American Clean Power Association (ACP)
About ACP: American Clean Power is the voice of companies from across the clean power sector that are powering America’s future, providing cost-effective solutions to the climate crisis while creating jobs, spurring massive investment in the U.S. economy, and driving high-tech innovation across the nation. We are uniting the power of America’s renewable energy industry to advance our shared goals and to transform the U.S. power grid to a low-cost, reliable, and renewable power system. Learn more about the benefits clean power brings to America at (Opens in a new window)www.cleanpower.org(Opens in a new window) and follow us on Twitter @USCleanPower(Opens in a new window) and LinkedIn(Opens in a new window).