Tax Credits, Storage, Community Solar and More Push Green Financing in 2016

The solar industry’s Investment Tax Credit (ITC) and the wind industry’s Production Tax Credit (PTC) extension, both announced in December, are driving the development of new renewable energy projects, while also generating a renewed interest in clean energy by project financiers. That was one consensus among speakers at the American Council On Renewable Energy (ACORE)’s Renewable Energy Finance Forum-Wall Street (REFF-Wall Street), in late June.

One of the biggest factors driving investment is that clean energy prices continue to drop, making them cost competitive with fossil fuels, as noted by several panelists at the two-day event. Wind power prices have now fallen to 2.5 cents per kWh, a 60% drop since 2009, while solar has fallen 70% since 2009 to 5 cents per KWh, according to the U.S. Department of Energy.

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