In a letter dated Oct. 5, over 580 signatories representing clean energy industries, including Geothermal Energy Association, urged Congress to pass tax extenders as soon as possible this year to provide benefits for businesses and investors deploying clean energy technology innovation.
“Allowing the lapsed clean energy tax provisions to languish undermines investor confidence and jeopardizes continued economic and environmental benefits,” according to the letter. “These bi-partisan tax provisions have a proven track record of helping scale up production, increase private sector investment and drive down the cost of clean energy technologies, thereby ensuring that market-ready technologies are deployed to their full potential.”
“Tax provisions that spur the use of a broad array of clean energy technologies, including biogas, biomass, geothermal, hydropower, solar, waste-to-energy, wind, fuel cells, renewable fuels, alternative fueled vehicles, combined heat and power, waste heat to power, and energy efficiency technologies lower the cost of clean energy and keep the U.S. competitive in the global technology race. They promote economic development, job creation, and a cleaner environment. To continue capturing these benefits, it is essential to restore stability in the marketplace by providing long-term tax certainty.”
Passing legislation that provides a multi-year time frame for these long term projects “will help grow the economy, create jobs, provide certainty, and deliver a safer, healthier future for our children,” according to the letter.
Kelly Speakes-Backman, Senior Vice President of Policy & Research, Alliance to Save Energy told press, “Extension of the clean energy tax incentives is a bipartisan issue. This extension will bring stability to a growing private industry, while reducing pollution from the energy sector. The Alliance endorses this business-oriented approach to strengthen our economy and encourage energy efficiency and clean technology investments.”
The letter is addressed to Majority Leader McConnell, Minority Leader Reid, Speaker Boehner, and Minority Leader Pelosi and signed by over 580 organizations including Geothermal Energy Association, Center for Energy Efficiency & Renewable Technologies, American Wind Energy Association, Business Council for Sustainable Energy, Environmental and Energy Study Institute, National Wildlife Federation, Union of Concerned Scientists, Enel Green Power North America, Inc. (GEA Members), ElectraTherm (GEA Members), Ormat Nevada Inc. (GEA Members), Terra-Gen Power, LLC (GEA Members) and Natural Resources Defense Council.
This blog was originally published in the GEA’s GeoEnergyWire and was republished with permission.
Lead image: Close-up of fountain pen on document. Credit: Shutterstock.