A bill to amend the Internal Revenue Code of 1986 to extend the clean electricity production credit and the clean electricity investment credit based on increases in the price of, and demand for, electricity, and for other purposes.

Key Points

• This bill would extend clean electricity production and investment tax credits whenever electricity prices rise more than 2% or total demand increases compared to the prior year. These "price or demand increase years" would reset the clock on credit phase-outs, keeping incentives alive for at least six more years after each qualifying year.
• Homeowner tax credits for energy-efficient improvements and residential clean energy (like solar panels) would also be renewed for two years after any price or demand increase year is identified. This helps families offset rising utility bills by making home upgrades more affordable.
• The bill removes existing rules that deny clean energy tax credits for wind and solar leasing arrangements. This opens the door for businesses and homeowners to access clean energy through lease agreements rather than needing to purchase equipment outright.
• The Energy Information Administration's Electric Power Annual report would serve as the official data source for determining whether a price or demand increase year has occurred. The Treasury Secretary would then make a formal determination based on that data.
• If a price or demand increase year is identified during a period when credits are already phasing out, the phase-out percentage would be reset to 100%, fully restoring the credit value for the six-year extension period. This prevents credits from being watered down even if they had started to decline.

Votes

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Related Bills

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