The legislation now heads to the desk of President Barack Obama, who intends to swiftly sign it into law.
For the US renewables market, the importance of the five-year extensions – running through 2019 for the wind production tax credit and through 2021 for the solar investment tax credit – can scarcely be overstated.
During the 2016-21 period, the PTC extension will spark the creation of an additional 19GW of new wind capacity and 18GW of solar, according to a Bloomberg New Energy Finance (BNEF) analysis.
Without