WASHINGTON, D.C. — Congress has reached a bipartisan deal that contains important emergency relief measures for the renewable energy industry, including a two-year extension of the investment tax credit (important for solar power), a one-year extension of the production tax credit (important for wind power), and a new 30% investment tax credit for offshore wind projects that start construction through 2025. Following is a statement from Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):
“With 13% of the clean energy workforce out of a job this holiday season due to COVID-19, we are grateful that lawmakers included commonsense emergency relief measures for the renewable sector in this package. Extending the solar and wind tax incentives and making the investment tax credit available for offshore wind projects is a bipartisan vote of support for the renewable industry and the hundreds of thousands of Americans building our clean energy future. These policies will help get people back to work, accelerating our economic recovery and achieving greenhouse gas emissions reductions that scientists tell us are necessary to protect our climate.”
Founded in 2001, the American Council on Renewable Energy (ACORE) is the nation’s premier pan-renewable organization uniting finance, policy and technology to accelerate the transition to a renewable energy economy. For more information, please visit www.acore.org.
Alex Hobson, Vice President of Communications, ACORE
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