The President’s comments come after the U.S. Treasury Department and Internal Revenue Service issued new guidance on how clean energy developers can qualify for federal tax credits last week.
U.S. President Donald Trump on Wednesday renewed his attacks on renewable power over the weekend, posting that “windmills and solar” are driving “record breaking increases in electricity and energy costs.”
“THE SCAM OF THE CENTURY! We will not approve wind or farmer destroying Solar,” he wrote in a post on Truth Social.
The comments come after the U.S. Treasury Department and Internal Revenue Service issued new guidance on how clean energy developers can qualify for federal tax credits.
The guidance, released Friday, eliminated the long-standing “5% investment” safe harbor that had allowed solar and wind projects to qualify for incentives by paying at least 5% of costs upfront and showing work was ongoing. Under the new framework, companies must now meet a stricter “physical work” test to demonstrate construction has begun. Small-scale solar facilities of 1.5 megawatts or less remain eligible under the 5% rule.
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