WASHINGTON, July 2 (Reuters) – The budget bill the U.S. Senate passed on Tuesday and the House of Representatives is now debating for final approval would dampen development of wind and solar power, kill climate funding and boost oil, gas and coal output.
Below are some details about the bill’s provisions on energy development and the environment:
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SOLAR, WIND TAX CREDITS

The legislation sharply reduces access to a 30% tax credit for solar and wind power projects that had been set to run until 2032, and which developers had relied on for future projects.
To access the subsidy, projects must now start service by late 2027, one year earlier than proposed in the House bill, or begin construction within a year of the bill’s adoption.

Using the credits would also require new standards on the origin of manufactured components used in the projects, in part to boost domestic manufacturing and reduce dependence on China.

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