Washington, D.C. – Lisa Jacobson, President of the Business Council for Sustainable Energy (BCSE), offered the following statement in response to the U.S. Department of Treasury and Internal Revenue Service (IRS)’s final rules for the Sections 45Y and 48E tax credits:
“The Section 45Y Clean Electricity Production Credit and the Section 48E Clean Electricity Investment Credit are foundational energy tax provisions that will spur private sector investments to increase U.S. energy supply, lower electricity bills, and help America maintain its energy innovation leadership.
“BCSE looks forward to reviewing this detailed rule that impacts each of our energy sectors. As the new Congress and Administration convene, our coalition will work with policymakers to maintain these influential energy tax provisions and ensure efficient and practical implementation.
“Energy tax incentives have a proven track record of increasing U.S. power sector investment and creating good-paying American jobs. With energy demand rising, these provisions are critical to developing homegrown energy generation that will power U.S. manufacturing and keep the lights on for homes and businesses.”
BCSE previously submitted written comments on the proposed regulations related to the Section 45Y Credit. Since the passage of federal energy tax credits in August 2022, BCSE has made numerous submissions to shape the design and implementation of the incentives funded by the legislation. BCSE’s relevant policy actions can be found here.