US Treasury Gives Renewables More Time to Meet Tax Credit Deadlines

By [email protected] The U.S. Treasury Department released guidance Wednesday that offers onshore wind and solar projects more time to meet tax credit deadlines, an acknowledgement of the challenges brought by the coronavirus lockdown.

Wind was the big winner: onshore projects that started construction in 2016 and 2017 will now have five rather than four years to finish construction while still receiving their production tax credit (PTC) benefits.

Solar developers got some help too, with the IRS allowing equipment bought in 2019 to be delivered into October while still remaining qualified for the investment tax credit (ITC).

With the PTC set to step down, the American

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