Report: Solar Tax Credits Tied to COVID Deal

Report: Solar Tax Credits Tied to COVID Deal

Bloomberg is reporting a tax credits extension for wind and solar projects is part of the bi-partisan agreement for a COVID stimulus package. The reports adds a number of one-year tax credits are set to expire at the end of this year, so time is becoming an issue.

Last year, a deal to extend tax breaks for solar energy over a number of years fell apart as the White House turned away from some clean energy programs.

The Solar Energy Industries Association has been working with Congress to obtain the tax credit extension. Just to be safe, it posted a blog on its website explaining how homeowners and businesses can take advantage of a 26% tax credit if they have a working solar energy system before December 31. The association is also hosting a webcast on the final Congressional negotiations on Monday, December 21 at 2pm Eastern Time.

Republican and Democratic leaders in the House and Senate all say they hope to reach a deal on a stimulus package “soon”. Leaders met into the evening on Tuesday, December 15, and more negotiations are expected this week. Congress also needs to pass a government funding bill by Friday to avoid a government shutdown. Senate Majority Leader Mitch McConnell has told reporters Congress will not go home for the holidays until the agreements are reached.


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