|CBS MoneyWatch map; click on the image to enlarge it.|
Ken Silverstein writes for Forbes, "The Senate bill would treat the investment tax credits provided to the wind and solar industries as income. Right now, projects are eligible to receive 30 percent tax credits — incentives that have led to the development of $50 billion in renewable energy facilities, say advocates, and something that could come to a screeching halt if the bankers and financiers that are backing them stop doing so."
The House bill would retroactively change the rules that dictate how wind developers qualify for production and investment tax credits, meaning that developers depending on the credits would have to eat the costs or abandon the project. "The Texas wind industry supported upwards of 22,000 direct and indirect jobs and accounted for annual lease payments to landowners of more than $60 million in 2016, according to AWEA," the American Wind Energy Association, John Austin reports for Community Newspaper Holdings Inc. in Texas, where "wind-generation capacity for the first time exceeded installed coal-fired generation capacity" in October.