Utility Dive quoted AEE's Leah Rubin Shen on aspects of the House reconciliation bill. Read snippets below and the full article here.
The House Ways and Means Committee will meet Tuesday to vote on tax incentives for clean energy and electric vehicles as part of the committee’s portion of the $3.5 trillion budget reconciliation spending plan.
The committee's proposed section of the budget bill, released Friday, would extend the investment tax credit (ITC) and production tax credit for solar and wind energy for 10 years, with phase-outs for both beginning in 2032. The legislative language also adds new domestic production requirements and additional credits for clean energy projects that pay prevailing wages...
Under the Ways and Means proposal, the ITC and PTC would be extended at their full rate through 2031, then drop to 80% in 2032 and 60% in 2033. The proposal would also make available additional credits of up to 10% for facilities that use domestic materials. The ITC would also be expanded to energy storage projects, microgrid controllers and biogas projects. Additionally, solar projects would be eligible for additional tax incentives for serving low-income communities, with credits determined based on community characteristics.
"AEE is pleased to see a wide variety of policies proposed that would strengthen the advanced energy industry and its domestic manufacturing capacity," Leah Rubin Shen, director of federal policy at Advanced Energy Economy, said in a statement. "We urge Congress to approve this suite of policies that would create thousands of new U.S. manufacturing jobs and deliver an excellent return on investment for the U.S. economy."
Read the full article here.