Biden’s Tax Credits Could Add $115B to Green Capex: BNEF Chart

BBB = Build Back Better. Solar capacity in gigawatts (DC) and wind in gigawatts (AC). BAU is business-as-usual.

BloombergNEF

President Biden’s Build Back Better bill has suffered setbacks in Congress, but still lives. Among its provisions is an expansion and extension of clean energy tax credits, the flagship subsidy of the U.S. While the subsidy alone will not get the administration to its goals for power sector decarbonization, tax credits would lower economic barriers to new clean power build. BNEF modeling estimates an additional $115 billion invested as wind, solar and storage capex due to tax credit provisions.

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