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To: Jacquerie

the tax credit for Tesla wen t away at the end of 2018.

https://ca.news.yahoo.com/2018-07-12-tesla-ev-tax-credit.html


102 posted on 01/20/2022 5:48:20 PM PST by dynoman (Objectivity is the essence of intelligence. - Marilyn vos Savant)
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To: dynoman

Subsidies, Subsidies

Government lit the solar boom in 2006 with the generous federal Investment Tax Credit (ITC). The dollar-for-dollar tax reduction covered 30 percent of residential or commercial solar installation costs. In fiscal year 2020 alone, the federal government handed over a combined total of $2.4 billion.

The ITC would be extended in 2016, 2018, and 2020. In 2019, a new provision allowed the U.S. Treasury to grant cash in lieu of the tax credits.

Loan guarantees from the U.S. Department of Energy joined the subsidy parade. The most infamous was to Solyndra, which declared bankruptcy to leave $536 million to taxpayers.

Renewable Portfolio Standards (RPS) required utilities to produce or buy electricity from qualifying renewables. More than 20 states and the District of Columbia enacted an RPS or a similar provision. In addition, states and utilities have offered tax breaks and rebates for solar installations, respectively.

Late-2020 legislation extended the current 26 percent ITC for two years (2021 and 2022), while scheduled reductions were postponed through 2023. But the solar lobby feverishly wants another extension for 2024 and beyond.


103 posted on 01/21/2022 4:08:49 AM PST by Jacquerie (ArticleVBlog.com)
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