More than 40% of Oklahoma’s energy generation comes from wind turbines, and solar companies are showing increased interest in building projects in the state. But advocates say Oklahoma’s leadership position in renewable energy investments may fade with the passage of the megabill.
On top of tax and Medicaid cuts, the bill makes sweeping changes to incentives offered to renewable energy projects. Today, companies in Oklahoma and other states get a tax credit to lessen the burden of operating the facilities.
The credit, along with incentives for electric vehicles and home energy projects, will be phased out in the coming years. Kylah McNabb, head of Oklahoma energy consulting firm Vesta Strategic Solutions, said the cuts will effectively stop the state’s renewable energy development.
“ It’s just incredibly devastating, I mean, I hesitate to use a term that strong, but it is…
