Jorge Medina and Mona Dajani are Partners at Pillsbury. (Courtesy Photos) Tax Extenders Included in the Stimulus Bill Poised to Provide a Boost to Renewables
The sweeping nature of tax extenders for renewables in the most recent stimulus bill is sure to spur billions of dollars of investments in renewable energy and help power our nation's economic recovery with job growth, says Jorge Medina and Mona Dajani, partners at Pillsbury Winthrop Shaw Pittman.
January 12, 2021 at 03:00 PM
9 minute read
President Donald Trump signed the $900 billion stimulus deal and $1.4 trillion government funding bill in late December. The legislation includes many renewable energy provisions, including extensions of critical tax credits for renewable energy and carbon sequestration. The legislative text of the bill is available here.
In particular, the package includes a two-year extension for the investment tax credit (ITC) for solar projects at 26%, a one-year extension of the 60% production tax credits (PTC) for onshore wind, a new 30% ITC for offshore wind projects that begin construction prior to 2026, and a two-year extension to start construction for carbon sequestration projects.
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