Tri Global Energy, a U.S.-based renewable energy developer, applauds the passage of legislation that includes long-term extensions of the solar and wind tax credits.

"This is a game changer for our company and will finally allow us to plan with certainty our growth and expansion over the next several years. Tri Global Energy plans aggressive expansion of both our wind and solar divisions into diversified geographical areas across the U.S.," said John Billingsley, Chairman and CEO at Tri Global Energy.

The proposed legislation is following on the heels of the global climate agreement in Paris, where 195 countries committed to tackle climate change and galvanize greater investment in clean energy. Consistent, long-term policies supporting wind and solar energy are critical to the growth of a lower-carbon economy. Last week, analysts from Goldman Sachs Group Inc. reported that new wind and solar panels worldwide will provide more energy over the next five years than U.S. shale-oil production has over the past five years, with wind and solar on track to exceed 100GW in new installations for the first time. Goldman analysts also stated that solar and wind energy are saving a gigaton of carbon dioxide emissions annually.