Congress extends tax credits for certain renewables, and expands tax credits for offshore wind and waste energy recovery.

Key Points:

..Production tax credits for onshore and offshore wind projects are extended at a 60% rate for projects that start construction by end of 2021.

..Offshore wind projects will receive a new investment tax credit at 30% for all projects that start construction by end of 2025.

..Investment tax credits for solar projects are extended for two years at a 26% rate through the end of 2022, with a step down to 22% for projects that start construction in 2023.

..Carbon capture projects have two more years to start construction and qualify for 45Q credits.