It’s starting to look like extending the clean energy tax credits could actually happen this time. Reuters reports that the Senate has approved a package to extend the investment tax credit for solar for eight years, and tax credits for wind and other renewables, such as wave power, for one and two years, respectively. The package could reportedly deliver $18 billion in tax credits for clean power as well as energy-efficiency incentives.
The plans still needs to be approved by the House, but this is exciting nonetheless. Congress is set to adjourn for the year, so it’s getting down to the wire. For more details on other clean power incentives in the plan, see our What You Need to Know About the Senate Energy Bill. And more on this later on.
Update: Check out our new post on the energy package which is headed back to the House for a vote, maybe.