Bill > HR4118

This bill seeks to terminate tax credits for wind, solar, and battery energy storage projects by amending several sections of the Internal Revenue Code. Specifically, the bill would eliminate existing tax incentives for renewable energy facilities whose construction begins after the date of the bill's enactment. The changes would affect three key tax credits: the Energy Credit (Section 48), the Clean Electricity Production Tax Credit (Section 45Y), and the Clean Electricity Investment Tax Credit (Section 48E). By modifying these sections, the bill would prevent wind, solar, and battery energy storage facilities from qualifying for tax credits, effectively removing financial incentives for new renewable energy projects. The bill requires the Secretary of the Treasury, in consultation with the Secretary of Energy, to issue regulations to implement these changes. The termination of these tax credits would potentially make renewable energy projects less financially attractive and could slow down the development of new wind, solar, and battery storage infrastructure in the United States.