The US government has bumped up the production tax credit for renewable energy to $0.24/kWh from $0.23/kWh.
The increase by the Internal Revenue Service includes an inflation adjustment and applies to wind, closed-loop biomass and geothermal facilities.
The PTC for open-loop biomass, small irrigation power, landfill gas, trash, qualified hydropower, and marine and hydrokinetic facilities remains at 1.2 cents/kWh.
The tax credit covers the first 10 years of power production. The adjustment applies to new projects that come online in 2017 as well as projects placed in service in the past 10 years.
Image: Pattern Energy
