Washington, D.C. – Lisa Jacobson, President of the Business Council for Sustainable Energy (BCSE), testified before the U.S. Department of Treasury today on the proposed rulemaking on the Section 45Y Clean Electricity Production Credit and Section 48E Clean Electricity Investment Credit established by the 2022 Inflation Reduction Act. Jacobson’s testimony reiterated the recommendations made in the comments submitted by BCSE on August 2.
“The updates and expansion of the Section 45 Production Tax Credit and the Section 48 Investment Tax Credit, combined with their ten-year span, provide impactful market signals to invest in a variety of clean energy projects in the United States,” said Jacobson.
“This is a historic opportunity to leverage private sector capital for public benefit. These projects will provide communities with access to affordable, reliable, and clean energy resources, while creating jobs and expanding economic development. In this way, the implementation rules are critical to delivering the results on the ground.”
BCSE’s testimony included requested changes to the proposal for the final regulations in the areas of eligibility and credit design, implementation of 80/20 rule, and sector-specific topics regarding biogas, biomass, renewable natural gas, fuel cells, hydrogen, hydropower, solar, storage, and waste-to-energy. See BCSE’s submitted comments for more details on these requested changes.
Jacobson was joined by representatives of BCSE members American Biogas Council, American Biomass Energy Association, Bloom Energy, Fuel Cell and Hydrogen Energy Association, National Hydropower Association, Plug Power, Reworld, and Solar Energy Industries Association, who also provided testimony.
As BCSE works with industry leaders and policymakers to advance the clean energy transition, ensuring the efficient and effective implementation of the 2022 Inflation Reduction Act (IRA) is a top priority. Since the passage of the IRA 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.
Media contact: Lizzie Stricklin
Email: lstricklin@bcse.org
Phone: 202.785.0507 ext. 1504