Summary

Suspends or extends phase-outs and other limits on several federal clean energy tax credits when national electricity prices or total electricity sales rise, and removes current rules that deny credits for certain wind and solar leasing arrangements. The measure directs the Treasury/IRS to use annual EIA data to identify years with qualifying price or demand increases and then temporarily preserves or restores credit eligibility for specified subsequent periods; it also eliminates the leasing disallowance for wind and solar projects for taxable years beginning after enactment.

• Triggers based on EIA data: credits get extended or reinstated when national electricity prices rise >2% year-over-year or total electricity sales increase.
• Production credit timing is delayed so the "applicable year" becomes the later of six years after a qualifying year or 2032, and phase-outs are treated as fully available for six years after a qualifying year.
• Residential clean energy and home-improvement credit limits are suspended for the first two calendar years after Treasury/IRS finds a qualifying year.
• Technical edits align the investment tax credit with the production credit's conditional treatment.
• Leasing disallowances for wind and solar credits are repealed for taxable years beginning after enactment, allowing leasing financing structures to claim credits.
• Treasury/IRS must annually determine qualifying years using EIA reports; first determination for 2025 must be made by Jan 1, 2027.
• Changes increase predictability and potential value of clean energy tax incentives during periods of rising electricity demand or prices.
• May reduce federal revenue relative to current law by preserving credit value in additional years and expanding eligibility for leasing arrangements.