With discussions in the U.S. Congress underway on the makeup of a ‘Phase 4’ coronavirus stimulus package, multiple reports are identifying clean and renewable energy as a key sector that Democrats hope to support. Although details are still scarce, ideas being floated include extensions of the investment tax credit (ITC) for solar power and other clean technologies, an extension of the production tax credit (PTC) for wind power, and the temporary conversion of these programs to a direct tax refund. These are good starts, but given the scale of the climate crisis and this rare opportunity to engage in direct stimulus, Congress should think bigger.
