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Final GOP bill kneecaps renewables and hydrogen but lifts nuclear and geothermal
The final bill is largely what emerged from the Senate Finance Committee in mid-June.
Solar, wind, and clean hydrogen will all lose incentives under the new bill, while nuclear and geothermal see some IRA benefits preserved. Solar and wind developers, to gain access to tax credits, will have to either connect to the grid by the end of 2027 or break ground on new projects within 12 months of the bill’s passage. Solar farms, for example, can typically be completed in 12 to 18 months, whereas backlogs for new natural gas turbines stretches into the early 2030s.
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