This week, the House Ways & Means Committee is scheduled to consider the Build It in America Act, which includes a proposed repeal of the Clean Electricity Production Tax Credit (PTC) of $0.0275 kWh (2023 value) and the Clean Electricity Investment Tax Credit (ITC) of 30%.
Both tax credits would replace those established previously in the Inflation Reduction Act but would apply to systems placed in service on or after January 1, 2025, as long as projects meet prevailing wage and apprenticeship requirements for projects over 1 MW AC.
Jason Grumet, CEO of the American Clean Power Association, released the following statement addressing the proposed repeal:
“It’s unfortunate that some members of Congress are still allowing partisan politics to come before historic investments in American manufacturing.
“Since the new clean energy incentives were adopted last Congress, 21,000 new American manufacturing jobs have been announced, along with nearly $200 billion in new capital investment. Despite strong opposition from some House Republicans, the vast majority of this new investment is bringing economic development to rural counties in red states all across the nation.
“We’re confident that the clean energy tax provisions will be sustained as lawmakers continue to see the benefits their constituents are enjoying from new jobs and affordable, domestic clean power.”
