From Reuters via MSN, August 14:
The Trump administration is expected as soon as Monday to take another step toward curbing the growth of renewable energy in the United States by making it harder for companies to claim federal tax subsidies for wind and solar energy.
The Treasury Department next week will reach a 45-day deadline, set by U.S. President Donald Trump in July, to revise rules governing who can qualify for clean energy tax credits that the Republicans' One Big Beautiful Bill Act is phasing out years [sic] earlier than planned.
The rule under scrutiny centers around what it means for a project to be considered under construction, a definition that is critical to companies building facilities that require years of planning.
The OBBBA requires projects to begin construction by July of next year or enter service by the end of 2027 to qualify for a 30% tax credit and bonuses that can push the subsidy even higher. Under previous law, the credits were available through 2032.
In an executive order last month, three days after signing the OBBBA into law, Trump directed Treasury to restrict the use of safe harbors, rules that have allowed project owners for years to claim tax credits so long as they incur 5% of their costs or make meaningful physical progress before the credit expires.
Washington policy advisory firm Capstone said it could see Treasury requiring developers to incur a higher percentage of costs, such as 10% or 15%. Under the physical work requirement, the agency could exclude off-site construction or require more contact with the government and proof of continuous work....
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