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    US Senate floats full phase-out of solar, wind energy tax credits by 2028
    Futurology

    US Senate floats full phase-out of solar, wind energy tax credits by 2028

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    47 Comments

    1. upyoars on

      > The U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028, but extended the incentive to 2036 for Trump administration-favored hydropower, nuclear and geothermal energy, according to a draft bill circulated on Monday.

      > The draft released by the committee chair, Republican Senator Mike Crapo, would begin phasing out tax credits enshrined by the Biden-era 2022 Inflation Reduction Act for solar and wind energy in 2026 by reducing the incentive to 60% of the credit’s value and **ending it** by 2028.

      > It would grant hydropower, nuclear and geothermal facilities 100% of the credit until 2033, and **then phase it out to zero** by 2036, according to the draft.

    2. Astronomy_Setec on

      Or, we could actually move into the future instead of being stuck in the past.

    4. gamesexposed on

      Meanwhile, China is headed into the very opposite direction. The mental gymnastics required to tout US sovereignty while dismantling technological progress are on a whole another level. 

      It’s also hilarious that the primary beneficiaries of these credits are places like Texas and the Midwest.

    5. Skylarking77 on

      The Chinese government figured out that rather than fighting America for dominance it could just pay our government to destroy itself for them.

    6. TheRexRider on

      I’m a fan of nuclear energy, but not under Trump. Way too many corners *will* be cut.

    7. BowlofPetunias_42 on

      You have to keep in mind many of these senators are so old they predate the sun, so they don’t really understand how it works.

    9. tilclocks on

      So just in time for the next election so the effects don’t hit people until another party wins… So tired of this shit

    10. Beard_Hero on

      Can we also stop subsidizing the fossil fuel industry, since the opponents of renewables claim “let the free market decide”?

    11. Jaszuni on

      This country is so over. More than anything Trump has shown how unstable and unreliable our government is when one man can make it do a complete 180. From term to term we are going to get extreme swings in ideology, norms and policy. This means the world can no longer depend on America. For Americans it means the long and slow decline has begun.

    12. wcruse92 on

      This sucks but I think is a bit better then the version the House signed (specifically on the tax credits).

    13. WinterMuteZZ9Alpha on

      I have 9 solar panels on my roof, 3 batteries, inverter, etc. I pay $4.00 a month for electricity, and when the power goes out in the region my house stays on with power. Washing machine, refrigerator, and TV connected to it, and no issues.

    14. wagadugo on

      More credits for mastodon decorated cave dwellings
      (Might as well go full regressive)

    15. tkwh on

      Broadly speaking, should we not also phase out subsidies for oil and natural gas? Perhaps even corn, sugar, and other subsidies could be phased out. I’m all for giving large industries fewer tax breaks, but just targeting “green” industries is simply cronyism.

    16. x40Shots on

      Ah yes, lets have China (#1 investor in other energy technologies globally) eat our lunch in the future by shortsightedly only putting our money into one ‘basket’ so to speak. Should be diversifying and being the leader.

    17. Count_Backwards on

      Fuck it, why not just trash the planet, rich people can buy condos on Mars and no one else matters

    18. orangepotato32 on

      I think this is a very poorly written article. The Senate bill seems to be much better than the House bill on tax credits.

    21. BASerx8 on

      I expect and hope that by 20228 we’ll have a “full phase out” of these retrograde, spiteful, right wing law makers and we’ll be able to return to facing and moving forward.

    22. timelessblur on

      Fine you can do that but remove all the oil and gas subsidies. Put them both on the same footing…..

    23. pm_me_beerz on

      Did they forget to phase out the oil and gas subsidies? They probably forgot to phase out the oil and gas subsidies. After all, we might have something resembling a free market in energy if they phased out the oil and gas subsidies. But I don’t think they’re going to phase out the oil and gas subsidies based on the amount of money that lobbyists give them, the lobbyists representing the oil and gas subsidy recipients that is.

    26. The_bruce42 on

      I thought Republicans were supposed to be against the government picking which industries win and which ones lose…

    27. severedgoat_01 on

      Ohhh I think I get it. So republicans are just dumb? This is such a bad move with the rest of the world innovating and moving ahead in energy production

    28. VRGIMP27 on

      It won’t matter the shit is already so cheap. It says they want those credits for geothermal and nuclear so that sounds good, and I’m not one to give this administration a lot of credit

    30. Eachplace on

      Idiots. They just can’t stand oil and coal losing revenue. This republican regime should be cut off at the root if we ever get another fair and free election. I think 2020 may have been our last if we don’t stop these POS.

    31. Canisa on

      So, keep them going the whole time you’re in power, because they’re actually beneficial, then dump them right at the end of your term to show you’re cutting waste, leaving your successor to reimplement them, because they’re actually beneficial, then criticise them for big government tax and spend policies?

      Is that about it?

    32. Rhawk187 on

      Yeah, I hadn’t planned on dropping 60k on solar panels for the house, but if the tax credit is going away, I guess it’s now or never. Contract says they’ll be installed by September 22nd.

    33. GISP on

      Coal and oil prices will continue to rise making energi prices soar in America.
      Divesting in alternatives is like shoting themselves in the foot and wondering why they are losing the race.

    35. urbanlife78 on

      The goal for the Republicans is to damage this country beyond repair. Making it near impossible for Democrats to ever be able to fix this mess

    37. alleyoopoop on

      I don’t understand why MAGA is so averse to solar. If I owned a farm, I would be all over solar — power anywhere you want it, with no connection fees, for free after a few years recovering costs. And with electric cars and trucks, no need to buy gas, either. But all they seem to think about is that a small EV can’t tow a fifth wheeler 500 miles in the winter.

    38. deeejm on

      Imagine ruining the future of your own country for profit. Maybe they know something we don’t? Their lack of foresight seems purposeful at times. 

    39. verify_mee on

      It’s so funny to me that Elon Musk owns businesses that install solar panels on homes, rely on government partnerships to send things to space, and builds electric cars, all things that are primary talking points for the Democratic Party and he stabs the entire organization with a katana. Like was he just in one big K hole for the last 10 months?

    40. 2Mobile on

      aw, look, consequences. its almost as if elections do actually matter. lol or at least they did once. not sure if any future elections will in the us but really, couldn’t have happened to a more deserving apathetic people.

    41. axiomatic13 on

      Small Natural Gas company owner here. This is idiotic. We need to have well-developed alternatives for when the oil and gas run out.

    42. uginscion on

      Its the 21st century. The fuck are we still doing burning dino juice like a bunch of Neanderthals? Naw. You’re right. Let’s do it the dumbest fucking way possible and cook this rock so a few assholes can live it up while we bake.

    44. Q-ArtsMedia on

      And so it came to pass that the human race cooked themselves and their planet to death. Only small trinkets of gold(impervious to the acid rains) remain to mark their passing into history. Had they only transfered to non carbon enegy sources they would have survived their impending self-inflected doom. That is it for this episode of lost worlds of the stupids. This is bleeblop signing off.

    45. dcdttu on

      So, phase out anything an individual can do themselves, and give credits to anything that a large corporation that will charge you a ton of money to provide electricity can do. Got it.

    46. DaBrokenMeta on

      Finally! Those bloody credits are holding America back!

      Our kids need the full focus of our political system to address these tax credits

    47. Gorkman on

      Yep, just let China become the technology leader (if they aren’t already). Backwards-ass Republicans…