According to Reuters, a senator in the US Senate has proposed to completely eliminate tax credits for solar and wind energy by 2028. Extend tax credits for hydropower, nuclear power and geothermal energy favored by the Trump administration until 2036 . Senator Mike Crapo, the Republican chairman of the
committee, released a summary of the proposal that would eliminate hundreds of billions of dollars in clean energy subsidies, calling them "unnecessary" and supporting stable energy rather than intermittent renewable energy.
On May 22, local media reported that the US House of Representatives passed a large-scale revision of the tax and finance bill. This includes early termination of the Advanced Manufacturing Production Tax Credit (for details, please click
, unlike the Senate bill, The House of Representatives proposes that subsidies for solar cells, silicon wafers and inverters be reduced year by year from 2030 to 2033 . According to the current law of the United States, the relevant tax credit policy will not be phased out until 2032. Compared
with the House's revised bill, the Senate gives more time for clean energy projects to use tax credits. The House bill requires construction to begin within 60 days of enactment and be in service by December 31 , 2028, to receive the tax credit; The Senate amended the credit to apply only for construction in a specific year, without putting it into use.
At the same time, the Senate proposal preserves the ability of project developers to sell or transfer tax credits to third parties to reduce financing costs, while the House bill has phased out this provision.
However, the Senate bill also retains some requirements in the House of Representatives. Such as eliminating the installation of ." In addition, while the Senate bill retains some of the House restrictions on projects that use foreign equipment or critical minerals such as China, But the Senate bill has fewer restrictions on companies using materials from China.
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