Bill > S2003

This bill, the Renewable Energy Parity Act of 2014, amends the Internal Revenue Code of 1986 to extend tax credits for certain renewable energy property, specifically by changing the conditions under which these credits are applied. Instead of focusing on when property is placed in service or specific end dates, the bill shifts the eligibility criteria to the commencement of construction for solar energy property, qualified fuel cell property, qualified microturbine property, combined heat and power system property, and qualified small wind energy property. For fuel cell, microturbine, and small wind energy property, the bill effectively extends the eligibility window by changing the requirement from construction not beginning before January 1, 2017, to a more general condition related to construction commencement, and for solar and thermal energy property, it amends the law to focus on when construction begins rather than specific periods ending. These changes are intended to provide greater certainty and access to energy tax credits for renewable energy projects.