Donald Trump’s Presidency May Reverse Fortunes for Renewables, Reviving Fossil Fuels
22 Nov 2016
The election of Donald Trump as the 45th president of the US is expected to have a significant impact on the power sector, specifically clean energy, climate, and the environment. It is expected that, under his presidency, the country’s domestic energy policy may witness the reversal of a number of major environmental policies of outgoing president Barack Obama.
The US Production Tax Credit (PTC) and Investment Tax Credit (ITC) extension in December 2015 gave a boost to the wind and solar power sectors in the country. The current solar ITC includes a 30% tax credit for commercial and residential solar photovoltaic (PV) installations and also an extension for a period of five years beyond 2016, the year it was set to expire.
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