USA: One-Year Production Tax Credit Extension for geothermal Energy

Congress Passes Tax Credits for Solar and Wind: ‘Sausage Making at Its Most Intense’ (Greentech Media)

President Obama is expected to sign the bill into law today.

The biggest federal policy development of the year for renewables plays out on Congress’ last day of work in 2015.

Lawmakers in the House and Senate passed a spending package today that includes multi-year extensions of solar and wind tax credits, plus one-year extensions for a range of other renewable energy technologies.

The pair of bills, which included tax extenders and $1.1 trillion in funding to keep the government running for the next year, passed hours before lawmakers adjourned for the holidays.

Also included were geothermal, landfill gas, marine energy and incremental hydro, which will get a one-year PTC extension. Those technologies will also qualify for a 30 percent ITC, if developers choose. In addition, the bill expanded grants for energy and water efficiency.

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