Wind and solar companies are racing to build before their tax credits disappear

A proposed solar farm in New Mexico aims to finish construction by 2029 or 2030. But the developer that hopes to build it now plans to buy solar panels for the project early—so it could potentially beat the government’s new deadline to qualify for federal tax credits.

The new budget law signed by President Trump on July 4 slashed incentives for clean power. New solar and wind projects were left with two limited options to get tax credits. First, a new project can qualify if it starts generating power by the end of 2027.