“A bill to amend the Internal Revenue Code of 1986 to extend the availability of certain clean energy credits.”
No CRS summary available for this bill.
This section extends the residential clean energy credit—available for qualified solar, fuel cell, small wind, geothermal heat pump, and battery storage expenditures at residences—through December 31, 2034 (from December 31, 2025). The section further revises the clean electricity production credit (IRC §45Y), a technology-neutral successor to the renewable electricity production tax credit that supports zero-greenhouse-gas electricity generation, by delaying the credit amount phaseout to the applicable year defined as the later of 2032 or the calendar year in which annual U.S. greenhouse gas emissions from electricity production equal or fall below 25% of 2022 levels (previously subject to earlier limitations in paragraphs (3) and (4) of subsection (d)) and by striking the prior termination provision in subsection (h). Finally, the section eliminates the credit amount phaseout for the clean electricity investment credit (IRC §48E), a technology-neutral successor to the energy investment tax credit that supports zero-greenhouse-gas electricity generation facilities, by removing the prior limitation in subsection (e)(4) and striking the termination provision in subsection (i). All changes apply as if included in the enactment of prior law (Public Law 119–21).