Businesses and investors need stable, predictable federal tax policy to create jobs, invest capital, and deploy pollution-reducing energy technologies.
The Business Council for Sustainable Energy (BCSE) joined over 580 companies and organizations urging the passage of legislation that provides the extension of expired and expiring tax incentives benefiting clean energy technologies as soon as possible this year.
“Businesses and investors need stable, predictable federal tax policy to create jobs, invest capital, and deploy pollution-reducing energy technologies. Allowing the lapsed clean energy tax provisions to languish undermines investor confidence and jeopardizes continued economic and environmental benefits,” noted Lisa Jacobson, BCSE President.
According to the Sustainable Energy in America Factbook, from Bloomberg New Energy Finance and BCSE, the use of lower and zero carbon energy sources has grown rapidly over the past seven years. These sectors are quickly embedding themselves into the mainstream fabric of the U.S. energy economy and tax policy has played a role in this transformation. The clean energy tax provisions have a proven track record of helping scale up production and drive down the cost of clean energy technologies, thereby ensuring that market-ready technologies are deployed to their full potential. The BCSE looks forward to continuing to work with Congress and the Obama Administration to extend the expired and expiring clean energy tax provisions as soon as possible this year. Doing so will help build the economy, create jobs, and deliver a safer, healthier energy future.
See the full letter to Congress here.
BCSE Board members offered the following comments on the release of the letter:
“American wind power is building momentum right now, but Congress has yet to pass these critical tax incentives, and the clock is ticking,” said Tom Kiernan, CEO of the American Wind Energy Association (AWEA). The U.S. wind energy industry has rebounded from the loss of 23,000 jobs in 2013 due to policy uncertainty, and we can grow to support 380,000 jobs by 2030 with stable policy. That’s why we join hundreds of other voices in the business community to call on Congress to take action now.”
“Extension of the clean energy tax incentives is a bipartisan issue,” said Kelly Speakes-Backman, Senior Vice President of Policy and Research at the Alliance to Save Energy. “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.”
Download the full press release here.
Filed Under: Financing, News, Policy
