How The Big Beautiful Bill Will Handicap Clean Energy
The post How The Big Beautiful Bill Will Handicap Clean Energy appeared on BitcoinEthereumNews.com. The Capitol Building, home of the United State Congress. Getty Images Green Technologies At Risk In Current Mega Bill As it was written, the Big, Beautiful Bill (Mega Bill) passed by The House of Representatives in May would handicap certain green projects (solar, wind, and batteries) that are in line to receive tax credits made available by the Biden government. The handicap is hard to understand because in the U.S. over 90% of new energy projects in 2023 and 2024 was generated by solar, wind, and batteries. What is the handicap? The Mega Bill mandates that such projects must begin within two months of passage of the bill, and would have to be completed, and in service, by the last day of 2028, or the tax credits would be canceled. To see what impact this would have on green projects, one analysis looked at clean electrical projects that are currently in the interconnection queue, and due to go online during 2028 or later (it wouldn’t be uncommon for projects slated to complete in 2028 to spill over to 2029, which would cancel the tax credits.) The total for all these at-risk projects in Figure 1 amounts to 600 GW (gigawatts). The largest three projects are CAISO of California at 183 GW, ERCOT of Texas at 128 GW, and MISO (Midwest and South) at 111 GW. Figure 1. Cleanview The truth is, current electrical production in U.S. is 1200 GW, and this will need to grow rapidly to power new AI data centers. So, if all these seven green projects lost their tax credits and dropped out of the interconnection queue, it would represent a huge loss that is 50% of current electrical production in the U.S. This loss would be like tossing away 600 traditional power plants that added up…
The post How The Big Beautiful Bill Will Handicap Clean Energy appeared on BitcoinEthereumNews.com.
The Capitol Building, home of the United State Congress. Getty Images Green Technologies At Risk In Current Mega Bill As it was written, the Big, Beautiful Bill (Mega Bill) passed by The House of Representatives in May would handicap certain green projects (solar, wind, and batteries) that are in line to receive tax credits made available by the Biden government. The handicap is hard to understand because in the U.S. over 90% of new energy projects in 2023 and 2024 was generated by solar, wind, and batteries. What is the handicap? The Mega Bill mandates that such projects must begin within two months of passage of the bill, and would have to be completed, and in service, by the last day of 2028, or the tax credits would be canceled. To see what impact this would have on green projects, one analysis looked at clean electrical projects that are currently in the interconnection queue, and due to go online during 2028 or later (it wouldn’t be uncommon for projects slated to complete in 2028 to spill over to 2029, which would cancel the tax credits.) The total for all these at-risk projects in Figure 1 amounts to 600 GW (gigawatts). The largest three projects are CAISO of California at 183 GW, ERCOT of Texas at 128 GW, and MISO (Midwest and South) at 111 GW. Figure 1. Cleanview The truth is, current electrical production in U.S. is 1200 GW, and this will need to grow rapidly to power new AI data centers. So, if all these seven green projects lost their tax credits and dropped out of the interconnection queue, it would represent a huge loss that is 50% of current electrical production in the U.S. This loss would be like tossing away 600 traditional power plants that added up…
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