- Submitted by: United States of America
- Topic: Green economy in the context of sustainable development and poverty eradication
- Location: United States
- Date of completion: 1992
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- This voluntary initiative came from Green economy policies, practices and initiatives
Renewable Electricity Production Credit
Description/achievement of initiativeThe renewable electricity production tax credit (PTC) is a per kilowatt-hour (kWh) federal tax credit included under Section 45 of the U.S. tax code for electricity generated by qualified energy resources.
Source: United States Environmental Protection Agency
The PTC provides a corporate tax credit of 1.1 cents/kWh for landfill gas, open-loop biomass, municipal solid waste resources, qualified hydropower, and marine and hydrokinetic (150 kW or larger). Electricity from wind, closed-loop biomass, and geothermal resources receive 2.2 cents/kWh. Projects that receive other government grants or subsidies receive a discounted tax credit.