Wind escapes US tax change

The US Production Tax Credit has escaped major changes in the US after Congress agreed a Republican bill that maintains the scheme for wind.

The American Council on Renewable Energy said the sector is “grateful” for the “elimination of provisions that would have decimated” future growth in wind and solar.

Intense lobbying from industry has been ongoing recently after an initial draft of the tax bill proposed changes to the PTC.

ACRE, however, said it “remains concerned” about the “potential impacts” of the new Base Erosion Anti-Abuse Tax on renewable energy finance.

“Even as we recognize that important progress was made in the effort to repair those provisions, we also note that the repair does not cover the full duration of the wind production tax credit and the applicability of the new tax was expanded by conferees.”

Image: Mott MacDonald