What’s in the Green Act?

[Elderberry]

National Law Review 2/11/2021

The US House of Representatives Committee on Ways and Means has reintroduced the Growing Renewable Energy and Efficiency Now (GREEN) Act, which aims to extend tax credits for renewable energy and carbon capture projects. If passed, the GREEN Act would build upon and boost the extended tax benefits to renewables that Congress passed in the stimulus package at the end of 2020.

According to the proposed legislation from Representative Mike Thompson (D-Calif.), the GREEN Act would reinstate and extend the solar investment tax credit (ITC) to 30% for projects that begin construction after 2020 and before 2027, then phase down to 26% for projects that begin construction in 2027, 22% for projects that begin construction in 2028 and 10% thereafter. The new offshore wind ITC would also be extended one year, for projects that begin construction prior to the end of 2026. The proposed legislation also adds certain storage technologies to the list of eligible ITC property and extends the current 60% production tax credit (PTC) for wind facilities that begin construction before 2027.  Importantly, the proposed legislation would allow taxpayers to elect to have 85% of the ITC and PTC refundable; that is, taxpayers could take the credit as a refund even if they don’t have sufficient taxable income to offset the credits. This would be a game-changer for many industry participants, who currently have to enter into complex transactions to monetize the credits, and would allow further expansion of the renewables industry, which some argue is limited by the approximately $12 to $16 billion per year in available third-party tax equity investment.

The GREEN Act would also extend the credit for carbon oxide sequestration facilities that begin construction before the end of 2026 and, like the PTC and ITC refundability election, provide a direct-payment option for developers. According to the Carbon Capture Coalition, the direct payment option is important because it would “allow project developers the opportunity to receive the 45Q tax credit as an estimated payment on their tax return, allowing them to finance carbon capture, direct air capture and carbon utilization projects without being subjected to the onerous financial terms and burdensome transaction costs of tax equity financing, thus incentivizing more technology innovation, jobs and emissions reductions at no extra cost to the federal government.”

More: https://www.natlawreview.com/article/what-s-green-act

[christian]

On youtube and on skynews, Australian media, the Germans invested heavily in wind generators and solar energy. With the winterstorm they are getting no energy from EITHER, and the German people are getting mighty cold.  This is what many of us have warned about and been ignored.  You can ignore it's coming, but the day is coming you will be one of those freezing yer azzes off.  Neither energy forms of production are reliable, even California has proven that!  Get ready to get mighty cold, call a democrat to complain, listen to them laugh as they sit on their pile of money.

[christian]

The Green Nazis real intentions on display for the world!  Germany, wind and solar fails and people face freezing to death.

The Green Nazis real intentions on display for the world!  California went big on wind and solar and had rolling black-outs.

The Green Nazis real intentions on display for the world!  Texas decided to go big on wind and solar and are having massive rolling black-outs in desperate bitter cold conditions.

How brainwashed can people be to not see this is how it was always intended to not work/work ?  At a time of massive numbers of people out of work, this is just how merciless they intended this to be.