A group of four Republican members of the House of Representatives proposed the Ending Intermittent Energy Subsidies Act to phase out tax credits for solar and wind projects.
The plan calls for phasing out the 48Y production tax credit (PTC) and the 48E investment tax credit (ITC) for solar and wind projects. It does not target other technologies like nuclear, hydropower and geothermal.
The bill would phase out the two tax credits by 20% per year for five years starting in the taxable years beginning after passage of the act.
The bill also proposes to eliminate transferability of solar and wind tax credits.
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