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Politics

How the Political Theory of the IRA Broke Down

Investing in red states doesn’t make defying Trump any safer.

The Capitol.
Heatmap Illustration/Getty Images

In the end, it was what the letters didn’t say.

For months — since well before the 2024 election — when asked about the future health and safety of the clean energy tax credits in the Inflation Reduction Act, advocates and industry folks would point to the 20 or so House Republicans (sometimes more, sometimes fewer) who would sign on to public statements urging their colleagues to preserve at least some of the law. Better not to pull out the rug from business investment, they argued. Especially not investment in their districts.

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Energy

One Sentence in the House Megabill Will Destroy the Rooftop Solar Model

A loophole created by the House Ways and Means text disappeared in the final bill.

Hammering solar panels.
Heatmap Illustration/Getty Images

Early this morning, the House of Representatives launched a full-frontal assault on the residential solar business model. The new language in the budget reconciliation bill to extend the Tax Cuts and Jobs Act passed Thursday included even tighter restrictions on the tech-neutral investment tax credits claimed by businesses like Sunrun when they lease solar systems to residential buyers.

While the earlier language from the Ways and Means committee eliminated the 25D tax credit for those who purchased home solar systems after the end of this year (it was originally supposed to run through 2034), the new language says that no credit “shall be allowed under this section for any investment during the taxable year” (emphasis mine) if the entity claiming the tax credit “rents or leases such property to a third party during such taxable year” and “the lessee would qualify for a credit under section 25D with respect to such property if the lessee owned such property.”

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Energy

AM Briefing: House Passes IRA-Killing Tax Bill

On the tax bill, FEMA, and Puerto Rican solar

House Passes IRA-Killing Tax Bill
Heatmap Illustration/Getty Images

Current conditions: A late-season nor’easter could bring minor flooding to the Boston areaIt’s clear and sunny today in Erbil, Iraq, where the country’s first entirely off-grid, solar-powered village is now operatingThursday will finally bring a break from severe storms in the U.S., which has seen 280 tornadoes more than the historical average this year.

THE TOP FIVE

1. House GOP passes reconciliation bill after late-night tweaks to clean energy tax credits

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