The Trump administration’s rollback of tax credits for renewable energy projects adds a sense of urgency to a controversial solar project south of Santa Fe.
AES Corp. now must break ground on the Rancho Viejo Solar project by year’s end to secure federal tax credits.
President Donald Trump signed an executive order last month instructing the Treasury Department to “terminate the clean electricity production and investment tax credits for wind and solar facilities.”
“For too long, the Federal Government has forced American taxpayers to subsidize expensive and unreliable energy sources like wind and solar,” Trump wrote in his July 7 executive order.
Further, the One Big, Beautiful Bill Act passed earlier this summer ends tax credits for wind and solar projects that go online after Dec. 3