Energy credit expansion: The Made in America Tax Plan

President Biden’s Fiscal Year 2022 Budget, released on May 28, 2021, includes four energy credit expansions: The Renewable Energy Investment Credit, the Renewable Energy Production Tax Credit, the Carbon Oxide Sequestration Tax Credit, and new tax credits for qualified advanced energy manufacturing. Here are some highlights of the budget, and what it could mean for the renewable energy sector.

Energy-Credit (1)



Where wind and solar power need to grow for America to meet its goals

The United States is now aiming to bring emissions down to net-zero by 2050, meaning the country would eliminate as much greenhouse gas as it emits. To reach that goal, Americans will need to get a lot more of their energy from renewable sources like wind and solar farms.


Cranberry farmers look to sweeten income by pairing crop with solar panels

The first solar panels installed over working cranberry bogs are set to come online in Massachusetts this year, putting to the test supporters’ belief that these installations can help struggling farmers while offering new ground for renewable energy to grow.


Syncarpha Capital aims to bring 75 MW of community solar to Maine

The capacity will come across 11 projects expected to begin construction over the course of the summer. The company expects more projects will be added in the coming weeks and months, with hopes to have them start construction later in 2021 or early 2022.


Connecticut legislators approve 1 GW energy storage target for the end of 2030

Under the bill, the state’s Public Utilities Regulatory Authority is required to start a proceeding to develop strategies and funding to interconnect energy storage with the distribution grid and develop rate design incentives to encourage storage development.


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