The long-awaited House GOP tax package unveiled yesterday got the energy world buzzing, as it would end a $7,500 tax credit for electric vehicle purchases, thereby raising the costs for prospective buyers. It would also pare back the value of the wind energy production tax credit, and tighten the definition of what constitutes an "under construction" project eligible. The changes would raise an estimated $12.3 billion over a decade.

The American Wind Energy Association, wind industry's main trade group, said lowering the value of the credit from 2.3 cents per kilowatt hour to 1.5 cents would put over $50 billion in planned investments at risk.

Expand chart
Data: Lazard's Levelized Cost of Energy Analysis, November 2017; Chart: Andrew Witherspoon / Axios

Yes, but: Changes to the decades-old tax credit aren't the existential threat to the wind industry that they once were, thanks to the drop in technology costs over the years. The chart above is from the new Lazard report on electricity generation costs that we looked at yesterday.

Quick take on EVs: Turning to the proposal to nix the electric vehicle credit, my Axios colleague and EV expert Steve LeVine passed along some thoughts about whether the change will truly hurt the emerging sector:

  • "A contrarian view would be that the credit was always capped at 200,000 cars per brand, so the carmakers were always going to have to stand on their own at some point, something Musk has said about Tesla repeatedly. In that vein, for incumbents, this only accelerates. For newcomers, though, it presents a bar to entry."

Go deeper

Ruth Bader Ginsburg will lie in state in Capitol's National Statuary Hall

Photo: Getty Images

House Speaker Nancy Pelosi announced Monday that the late Supreme Court Justice Ruth Bader Ginsburg will lie in state in the Capitol's National Statuary Hall on Friday.

The state of play: The Supreme Court also announced Monday that Ginsburg will lie in repose on the front steps of the building on Wednesday and Thursday, allowing the public to pay respects to the late justice outside.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Retail traders drove Snowflake and Unity Software's IPO surges

Illustration: Sarah Grillo/Axios

The story of last week's Snowflake and Unity Software IPOs had little to do with data warehousing or 3D game development, and lots to do with dizzying "pops" after pricing.

What happened: The Robinhood effect.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 31,103,347 — Total deaths: 961,435— Total recoveries: 21,281,441Map.
  2. U.S.: Total confirmed cases as of 10 a.m. ET: 6,813,984 — Total deaths: 199,525 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Health: CDC updates guidances to say coronavirus can be spread through the air Nursing homes are evicting unwanted patients.
  4. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
  5. Education: College students give failing grade on return to campus.
  6. Business: Unemployment concerns are growing.
  7. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.