Despite the currently low prices of oil and natural gas, renewable electric power generation is poised for rapid growth. Based on a “business-as-usual” scenario, Bloomberg New Energy Finance’s New Energy Outlook, June 2015 predicted a $6.9 trillion investment in new renewable electric power generation over the next 25 years. A newly published report by Ceres, Bloomberg New Energy Finance, and Ken Locklin, Managing Director for Impax Asset Management LLC, predicts a much greater opportunity for private sector companies and commercial financiers to invest in new renewable energy.
Topics: Carbon Emissions, Biomass, Solar Energy, Renewable Energy, COP21, ITC, Energy Investment, Investment Tax Credit, renewable energy investment, PTC, carbon tax, Wind Energy, Climate change, Ceres, United Nations, UNFCCC, production tax credit, cap-and-trade, renewable portfolio standard, feed-in-tariff, COP22, carbon pricing
Topics: Distributed Energy, Solar Energy, ITC, Net Metering, Net Energy Metering, Investment Tax Credit, NEM, DG, Distributed Generaton, rooftop Solar, Rooftop PV, NPUC, Solar Rooftop, Solar Roof, Nevada, NV Energy, Net Metering Battle, Nevada Public Utilities Commission
Despite “grinchy” recent predictions from some, the solar industry looks set to receive some holiday cheer with the odds on an investment tax credit (ITC) extension seemingly rising by the minute. Many credit the ITC as one of the predominant factors behind the surge of solar in the U.S. Despite some pushback from House Republicans last week, the lower chamber is set to vote on an omnibus appropriations bill by the end of this week, which includes a five-year extension of the credit.
The scheduled stepdown of the solar Investment Tax Credit (ITC) from 30% to 10% at the end of 2016 has become a bit of a political football among the pro-solar crowd. Even mentioning the possibility of a stepdown occurring can lead to accusations of negativity from extension advocates. However, despite the negative connotations of discussing the ITC in the context of a decline rather than an extension, it would behoove participants in the solar markets to at least consider what life at 10% could mean to them. That is particularly true after a whirlwind of a week in Washington that, if anything, has made the fate of the ITC murkier than ever.