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’s final rules for the Section 48 Investment Tax Credit:
“BCSE commends the U.S. Department of Treasury for finalizing new regulations for the Investment Tax Credit (ITC), providing needed certainty for energy sector investment. The updates and expansion of ITC create important clarity and strong market signals to invest in a variety of energy projects in the United States, including biogas, hydrogen, solar, grid equipment, and energy storage. This development builds on the opportunity that the portfolio of energy tax credits provides to leverage private sector capital to lower energy costs, to improve American competitiveness, create jobs, and spur local economic development.”
BCSE previously submitted written comments on the proposed regulations related to the Section 48 Investment Tax Credit. Since the passage of the Inflation Reduction Act 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