NREL researchers estimate impact of ITC extension on US renewable energy market

NREL researchers estimate impact of ITC extension on US renewable energy market

 
23.02.2016: Researchers from the US Department of Energy’s National Renewable Energy Laboratory (NREL) have used a scenario analysis approach to estimate the impacts of the extension of the federal 30% Investment Tax Credit (ITC) for solar and wind power projects under two distinct natural gas price futures. In the report »Impacts of Federal Tax Credit Extensions on Renewable Deployment and Power Sector Emissions,« the research team has estimated that incremental renewable energy capacity driven by the tax credit extension will peak at 53 GW in 2020. The authors of the report also noted that by the mid-2020s other drivers like reductions in the costs of renewable energy generation and assumed rising fossil fuel costs will propel continued growth in cumulative renewable energy capacity through 2030 under both extension and no-extension scenarios. © PHOTON