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First Solar, an Arizona-based solar-panel manufacturer, expects to receive as much as $710 million this year—nearly 90 percent of its expected operating profit—from federal subsidies meant to encourage domestic renewable energy production. Those incentives could be worth more than $10 billion for the company over the next decade. The incentives were approved by a Democratic Congress and President Biden last year […]
The Federal government has already spent well over $100 billion on renewable credits for electricity production since their enactment three decades ago, and the “Inflation Reduction Act” will cost taxpayers another $98 billion. The proposed bill is full of incentives for renewable energy technologies, chief among an extension of wind and solar tax credits significantly increasing […]
On November 19, the House of Representatives passed a $2 trillion budget bill with a long list of increases in federal royalties and fees, plus new fees, new taxes, and barriers to leasing in the Arctic National Wildlife Refuge, the Pacific, Atlantic, and eastern Gulf of Mexico. It passed on a party-line vote of 220-213 and was […]
This past week House Democrats passed their budget reconciliation bills in the various Committees. So far these bills are 100 percent partisan as no Republicans in any Committee has voted for them. Next, the House Budget Committee will take the various provisions and combine them into a reconciliation bill to send to the Senate. This […]
After many months of speculation, we have the text of the tax extenders package. As expected, the deal extends a host of small expired or expiring tax provisions from the last several years. On the energy front, however, taxpayers have mostly dodged a bullet. With the exception a 5-year extension of the biodiesel tax credit and […]
America is in the midst of an energy revolution. While coal use has fallen, natural gas and oil production have increased dramatically over the last four years. Conversely, despite massive amounts of subsidies, mandates, and media hype, renewable energy production has hardly budged. Glowing words for renewable energy investment shouldn’t outshine the real story about […]
As Congress considers a massive $1.1 trillion omnibus spending bill, coupled with a $650 billion tax extenders package, the American Energy Alliance urges all members to vote against any legislation that extends the wind Production Tax Credit (PTC), the solar Investment Tax Credit (ITC), and fails to prohibit funds from being repurposed to the Green Climate Fund. According […]