Future Tax Incentives for Renewable Energy To Decline if Not Renewed, CRS Reports

Tax incentives intended to support renewable energy are projected to decline by nearly half, from $6.3 billion to $3.3 billion, between 2011 and 2015, according to a report from the Congressional Research Service released Sept. 19.

The report also found that, relative to their domestic production levels, current federal support for renewable energy greatly exceeds support for fossil fuels.

These conclusions come from projections of the annual cost of energy-related tax provisions and expired or expiring tax provisions, such as Section 1603 grants in lieu of tax credits program and the production tax credit for renewable electricity, CRS said. This ...