February 24, 2016
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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The United States Department of Energy National Renewable Energy Laboratory (“NREL”) has issued a February 2016 report titled Impacts of Federal Tax Credit Extensions on Renewable Deployment and Power Sector Emissions (“Report”).
The Report is authored by Trieu Mai, Wesley Cole, Eric Lantz, Cara Marcy, and Benjamin Sigrin.
The Report analyzes the potential impact of the recent Congressional extension of federal tax credits on the deployment of renewable generation technologies and related United States electric sector carbon dioxide emissions.
Congress recently (December 2015) renewed expiring renewable energy tax credits such as the wind production tax credit and solar investment tax credit. The wind and solar tax credits were extended by five years. However, the credits decrease incrementally in value during the latter years of the five-year period.
The NREL states that the Report details the use of scenario modeling that explore two questions:
- How might renewable energy deployment in the contiguous United States change with these recent federal tax credit extensions?
- How might this change in renewable energy deployment impact carbon dioxide emissions in the power sector?
These questions are examined under two natural gas price futures. The price of natural gas is deemed to be a key factor influencing the economic competitiveness of new renewable energy development.
Click here to download a copy of the Report.
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