Since they were first introduced in the 1970s, tax credits for renewables have helped scale up and dramatically reduce the cost of clean power in the United States. But in recent years they have also created opportunities for a small handful of major investment banks to skim billions off the top, extracting lavish fees and control over clean energy projects as part of deals shrouded in secrecy. Public power providers—who serve nearly a third of retail electricity customers—have trouble accessing clean energy tax credits at all. The infrastructure package the Biden administration has proposed, and which is currently being debated by lawmakers, presents an opportunity to change that. It could
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