Clean energy winners and losers in the Senate’s ​‘Big, Beautiful Bill’

AI generated summary

The Senate Finance Committee has unveiled its version of the 'Big, Beautiful Bill,' which includes significant clean energy tax credits that differ from the House's proposals. Notably, solar and wind projects will benefit from a more gradual phaseout of tax credits, allowing certain large projects to access incentives beyond 2027. Additionally, battery storage, geothermal, hydropower, and nuclear projects will have access to production tax credits until 2036, marking a positive shift from the House's approach.

However, the Senate version also presents challenges for electric vehicles (EVs), as tax credits for new and used EV purchases will be significantly reduced. Home energy improvement incentives will also be limited to a short timeframe, and green hydrogen production credits will only be available for projects starting construction this year. As the bill progresses, the fate of consumer-focused tax credits remains uncertain, with potential implications for jobs and clean energy projects. The Senate aims to finalize the bill and reconcile differences with the House by July 4, 2023.