Manchin skeptical of extending renewable tax credits

Source: By Eric Wolff, Politico • Posted: Thursday, March 11, 2021

Senate Energy Chair Joe Manchin argued against continued extensions of wind and solar tax credits during a clean energy conference Wednesday. Manchin (D-W.Va.) argued that solar and wind had matured as technologies, and therefore no longer need the investment tax credit or production tax credit. Developers must start wind projects by the end of this year to access the PTC, and solar developers have another two years at current levels before the value of the credit declines. “I’m not a big tax credit guy, so that’s where you gotta sell me now,” he said at a policy conference by the American Council on Renewable Energy, a clean energy business trade association. “Because my father used to say, ‘Your mother carried you for nine months. How long do you want me to carry you?'” Manchin noted that wind and solar power were already lower cost than coal power and cheaper than natural gas plants in many parts of the country