Utilities’ timelines for renewables projects are shrinking—fast. Why? To qualify for IRA tax credits within the new one-year deadline set forth by the recent budget bill. (Utility Dive)
Utilities “with renewables-heavy plans” like Xcel, WEC Energy Group, CMS Energy, and Ameren are pacing “to accelerate projects originally slated for 2030–31 into 2027–28,” according to a new report from Jefferies. “While affordability concerns linger, we believe investors are too focused on potential capital pullbacks and not enough on who’s actually accelerating spend.”
Speaking of speeding things up: In light of the IRA rollback deadlines, five trade groups repping solar, wind, and energy storage companies this week called on California leaders to hasten environmental reviews and project approvals, kick off new clean energy procurement, and permit more facilities to be sited on agricultural lands.