| June 2020 |
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Treasury Department signals modification of ITC and PTC continuity safe harbor
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Given the recent exchange between a bipartisan group of senators and the Treasury Department, it appears that the continuity safe harbor for the Production Tax Credit (PTC) and Energy Investment Tax Credit (ITC) will be extended.
Under current regulations, taxpayers "lock-in" a tax credit based on the beginning of construction date for their facility or property. Taxpayers must then demonstrate continuous efforts to complete construction in order to ultimately be eligible for the tax credit on completion.
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How renewable energy could emerge on top after the pandemic
The short-term prospects for wind and solar power look rocky amid the economic upheaval of the coronavirus. But long-term, renewables could emerge stronger than ever, especially if governments integrate support for clean energy into COVID-19 economic-recovery programs.
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Is the COVID-19 pandemic good news or bad news for renewable energy?
The unprecedented scope of the coronavirus outbreak has led to an equal measure of uncertainty in the renewable energy sector.
Will the depth of the pandemic slow down investment in solar, wind and other cleaner energy projects? Or will the economic tumult that the virus has wrought on the oil and gas segments provide an opening for renewables to fill?
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State renewable portfolio standards and goals
States have been very active in the past year revising their Renewable Portfolio Standards (RPS), which require that a specified percentage of the electricity that utilities sell comes from renewable resources. States have created these standards to diversify their energy resources, promote domestic energy production, and encourage economic development.
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