COVID-19 relief legislation in December 2020 set the PTC to 60 percent of its statutory rate for wind projects that started construction in 2020 and 2021, with a planned expiration in 2022. . Two tax credits, the investment tax credit (ITC) and the production tax credit (PTC), directly support investment in wind and solar electric power. In the Congressional Budget Office's baseline projections, those tax credits reduce federal revenues and increase federal spending. In this report, CBO. . The Notice, issued on August 15, 2025, provides guidance on when construction of a wind or solar facility is considered to have begun, which is relevant for determining whether a facility qualifying for tax credits under Section 45Y or Section 48E of the Internal Revenue Code must be placed in. . Production tax credit for domestic clean energy manufacturing of components including solar and wind energy, inverters, battery components, and critical minerals. Projects must now show significant physical work started before July 5, 2026. Requirements for Claiming the Credit. The choices these owners make will have substantial effects on clean power deployment and investment supply.
