The House voted almost entirely along party lines on Thursday to approve a big budget bill that would send many of the Inflation Reduction Act’s clean energy provisions to an early grave. Now the Senate will take a shot at drafting its own version.
Two major losses in the House bill are the production and investment tax credits for clean power projects known as 45Y and 48E, which would be phased out much more quickly than under the IRA. Clean power projects would have to start construction within 60 days of the bill being signed into law to be eligible for the incentives, and start service by the end of 2028. Another provision means bad news for rooftop solar, as it eliminates incentives for installations that companies build on homeowners’ roofs for free or at a low price and then lease back to them.
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