The U.S. Fuel Cell Industry Requests Long-Term Tax Incentive

The U.S. fuel cell industry has formally requested that the U.S. Congress agree to a long-term extension of the investment tax credit for businesses and households that install fuel cells.

“An eight year extension of the tax credits…will provide certainty and stability for purchasers, stimulate cost reduction and supply chain interest, and send a positive signal to capital markets,” said Robert Rose, Executive Director of the US Fuel Cell Council, the industry trade association. Testifying to the Ways and Means Subcommittee on Select Revenue Measures, Rose added, “this committee showed commendable leadership in approving a variety of tax incentives in 2005 to encourage the deployment and early adoption of fuel cells and related infrastructure.” Rose said more than 30 fuel cell products are on offer from USFCC member companies. “The credit has begun to do its job,” Rose said, but it is scheduled to expire after 2008. He endorsed H.R. 550, bipartisan legislation introduced by Reps. Mike McNulty (D-NY) and Dave Camp (R-MI) with 54 cosponsors, to extend the credit and make other improvements.

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