As negotiations over President Donald Trump’s “Big Beautiful Bill” came down to the wire in early July, renewable energy developers were holding their breath. Until the eleventh hour, it looked like Congress was ready to make good on Trump’s promise of “terminating” key subsidies for wind and solar virtually overnight.
In the end, the industry breathed a small sigh of relief after the Senate reached a compromise that would, at least in principle, give new projects a slim window to go ahead. Under the final law, wind and solar projects that begin construction by July 4 of next year are eligible for the full federal tax credits. Halfway through that window, a new requirement kicks in: Projects that begin construction after January 1, 2026, can only keep the tax credits if they follow restrictions on the use of Chinese materials.
That could still upend New York’s renewable energy transition.
Federal tax credits have typically covered almost a third of the cost of building a solar or wind farm. That’s made ... Read more
