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The Inflation Reduction Act (IRA), which became law on August 16, 2022, extends and increases tax credits for wind energy projects that begin construction prior to January 1, 2025. . Outlined below are the primary federal incentives for developing and investing in wind power, resources for funding wind power, and opportunities to partner with DOE and other federal agencies on efforts to move the U. To stimulate the deployment of renewable energy. . New wind installations dropped 77. 5 percent in the third quarter of 2022 versus the same period the year before. New utility-scale solar installations fell about 40 percent in 2022 compared with 2021. That interconnection application process is often yearslong and requires upgrades to the grid, which are often so expensive. . Wind energy projects face lengthy delays for grid connection Hundreds of wind energy projects are having to wait years for permits to connect to the power grid in Europe – and the backlog is slowing the move to renewable energy, according to a new report by WindEurope. Smart grid technologies and energy storage systems are helping to smooth out these fluctuations and make wind power more reliable.
