The U.S. renewable energy industry expressed relief after a compromise Republican tax bill released late on Friday preserved key tax credits that had been at risk of being removed, but it raised concerns about a provision that may threaten investment in the sector.
The final tax bill retains the production and investment tax credits for wind and solar energy that have spurred investment in the fast-growth industries. It also eliminates the alternative minimum tax, which would have reduced the value of those credits.
The bill includes the Base Erosion Anti-Abuse Tax, which was intended to prevent multinational companies from abusing the tax code but has worried the renewable energy industry because it would limit the ability to claim a portion of production or investment credits.
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