Climate Changed
Wind and Solar's Future Hangs on Taxes, Not Clean Power Plan
- Tax credits are the primary drivers of renewables in U.S.
- EPA’s Pruitt wants to rescind the measures, but odds are long
Acciona wind turbines operate at a wind energy farm in Ethridge, Montana, U.S.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The Trump administration’s decision to end the Clean Power Plan may be deeply symbolic, but the battle that matters most for renewable energy will be over taxes.
Wind and solar have been the fastest growing sources of electricity in the U.S. since 2014 as utilities closed a record number of aging coal-fired generators. That’s largely because it’s become cheaper to build renewable plants than keep coal plants open.