Dive Brief:
- After a sweeping victory on Tuesday, Republicans now hold a majority in both the House and Senate. But what that means for energy policy remains unclear, say observers, though the consensus isn't good for renewables.
- Some policy, such as the U.S. Environmental Protection Agency's efforts to regulate carbon, will likely remain unchanged. But tax credits for renewable energy may face a tougher road, and fossil fuels could see a boost in support.
- The solar investment tax credit is an immediate fight, as some Republicans have signaled they will oppose energy subsidies, according to PV Magazine.
Dive Insight:
PV Magazine reports on the impacts of Republicans' win on Tuesday, finding a tougher road ahead for renewable energy. One of those first fights may be over a 30% investment tax credit in solar power, which will decline at the end of 2016.
The Solar Energy Industries Association has launched a national campaign advocating for the credit by linking the issue to tax fairness.
"Since the United States first began incentivizing energy development, the average annual subsidy has been $4.8 billion for oil and gas, compared to just $370 million for all renewable technologies," said SEIA President and CEO Rhone Resch.
Solar installations in 2014 will be 70 times higher than they were in 2006, when the credit took effect, according to SEIA.
Observers also note that Republican control of the Senate gives them greater control of budget issues, and the ability to cut department-level funding of clean energy.
