US House passes wind-boosting climate bill

Since the US Senate has already passed the bill, it now goes to President Joe Biden’s desk to be signed into law. He said he will sign it this week (starting 15 August). 

The legislation will extend the wind production tax credit (PTC) for ten years, initiate advanced manufacturing credits, including for major wind components, and will lift a Trump-era ban on energy auctions off the south-east coast. 

With nearly $370 billion in spending for energy and climate, it is the largest federal bill for climate spending ever, according to analysts. 

In a preliminary estimate, the Rhodium Group predicts that the new law could cut net US greenhouse gas emissions to 31% to 44% below 2005 levels in 2030, compared with 24% to 35% under current policy. 

American Clean Power CEO Heather Zichal said: “History was made in Washington today. After decades of failed attempts, passage of this bill marks the largest investment in domestic clean energy ever. Period.”