The industry will likely see many companies taking advantage of the 30% ITC, and build more panels, storage capacity and other production items up to the end of 2015. Once the ITC drops to 10%, these companies can also utilize a higher rate of depreciation to protect their profits. So, the cut in ITC will not likely dent these companies’ profitability. The wind sector also benefited significantly from the production tax credit (“PTC”) over the last few years. It was started in 1992 as a part of the Energy Policy Act of 1992.
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Renewable energy costs expected to drop 40% in next few years | ITworld
Deutsche Bank has also reported that the cost of rooftop solar power is expected to beat coal and oil-fired plant energy costs in just two years. IRENA In the U.S. the amount of electricity generated through the use of renewable sources is steadily climbing. Adaba Sultan Ahmed al Jabber, the minister of state of the United Arab Emirates, said during a presentation at the conference that trend in solar costs would not be affected by plummeting oil prices. His comments were first reported by the online publication RenewEconomy. Adnan Amin, director-general of IRENA, said in a statement that renewable energy projects across the world are now matching or outperforming fossil fuels, particularly when accounting for externalities like local pollution, environmental damage and ill health.
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