The stimulus bill currently being drafted by U.S. Congress contains language that seeks to change the tax credits received from investing in solar and wind energy into direct payments to investors for the next two years.
That means that the 30% renewable energy tax credit that is given to solar energy and wind power investors would be changed so that those investors would be paid out in grant within 60 days. There is also no cap on the amount that can be paid out.
But this is all part of an early draft version of the $825 billion stimulus bill which still has to survive both houses of Congress. Will it see changes before it sees the light of approval? You can bet on it. It’s just a matter of what and how much.