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The Proposed Tax Bill – Extends the $6 Billion Nuclear Credit and Trims the Wind Credit

  • By Admin
  • November 8, 2017
  • 20 Views

As part of the proposed Tax Bill being put forth by the House of Representatives, the bill is being credited with a $6 billion nuclear credit and a reduction in the wind energy production tax credit.

This $6 billion tax credit for the nuclear industry was already in place, but it had an end date of 2021. This was a stumbling block for Southern Company’s Vogtle expansion project since they were not likely to be finished before 2021.

As for wind, the current tax credit of 2.3 cents per kWh will drop to 1.5 cents per kWh, and begin phasing out before expiring entirely in 2020. Additionally, the currently-permanent 10 percent tax credit for solar would be ended after 2027.

The bill also adds various tax credits for geothermal, small-scale wind, and fuel cells that were originally proposed in 2015.

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