From The Hill, May 16:
Congressional Republicans’ phase-out of the tax credits for climate friendly energy sources are expected to decimate the incentives and raise U.S. emissions.
While the GOP’s “big beautiful bill,” which faces an uncertain future and a key committee vote Friday, proposes to phase out the credits over several years, analysts say the legislation’s fine print effectively cuts them entirely.
“What’s in the text now is about as bad as it could be and is likely to cause a lot of project cancellations, and that has knock-on effects on the economy, on people’s energy bills and so on,” said Robbie Orvis, senior director of modeling and analysis at climate policy think tank Energy Innovation
“It’s pretty rough in terms of the outlook for clean energy,” Orvis added.
One of the most significant provisions in Democrats’ 2022 Inflation Reduction Act was “technology neutral” tax credits that provide significant subsidies to any energy source that can get its planet-warming emissions below a certain threshold....
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