Before adjourning for the holidays, the U.S. House and Senate passed legislation that includes multi-year extensions for solar and wind energy tax credits, greentechmedia.comreports. The legislation extends the 30-percent solar Investment Tax Credit (ITC) another three years, after which it “will ramp down incrementally through 2021, and remain at 10 percent permanently beginning in 2022,” according to the article. The 2.3-cent per kilowatt hour Production Tax Credit (PTC) for wind energy will now be extended through next year; projects “that begin construction in 2017 will see a 20 percent reduction in the incentive,” which will then “drop 20 percent each year through 2020.” These extensions will “support tens of billions of dollars in new investment and hundreds of thousands of new jobs throughout the U.S.,” business groups and analysts say. GTM Research’s director of solar research, MJ Shiao, said, “There’s no way to overstate this — the extension of the solar ITC is the most important policy development for U.S. solar in almost a decade.” For more, read the full article.