The Trump administration’s new clean energy tax guidance deals a fresh blow to many wind and solar companies already reeling from enactment of the Republican megalaw, raising new questions about the trajectory of renewables.
The Treasury Department plan, released Friday and mandated by an executive order on July 7, rewrites decades-old standards for how wind and solar projects can qualify for lucrative credits. The revisions no longer allow projects that incur 5 percent of their costs to be considered under construction — a move that could make it difficult for many developers to receive federal support and move forward. The guidance also requires companies to meet the new standards within two weeks, angering industry advocates.
The move “is part of an unprecedented side deal the administration made with anti-clean energy ideologues to undermine Congress,” said Abigail Ross Hopper, president and CEO of the Solar Energy…
