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BCSE In Action

 
November 1, 2011
 
In Letter to Congress, BCSE Urges Support for Tax Policies to Spur Investment, Achieve Long-Term Energy Policy Objectives
 
In a letter sent today to the heads of the House Ways and Means and Senate Finance Committees, the BCSE called on Congress to continue its long-standing support of a broad array of clean energy tax incentives to spur investment, create jobs, and diversify the nation's energy portfolio. These tax incentives, the letter argues, support a well-reasoned national energy strategy, strengthen the economy, and increase American competitiveness in the global marketplace.
 
Read the Council's full release for quotes on the letter from BCSE President Lisa Jacobson, BCSE Board of Directors Chairman/Sempra Energy Director for Government Affairs George Williams, and Enel Green Power North America's President and CEO Francesco Venturini.
 
The letter highlights and describes a diverse set of clean energy tax policies, including:
  • The Production Tax Credit (PTC) and the Investment Tax Credit (ITC) have been effective tools to keep electricity rates low and encourage development of a wide range of proven clean energy projects, which must play a central role in America’s long-term electric energy supply.
  • The Section 1603 Treasury Program infuses critical monies into clean energy projects by bypassing a tax equity market paralyzed by the recent economic downturn while creating jobs and building a more competitive U.S. clean energy industry.
  • Clean Renewable Energy Bonding Authority (CREB) to ensure comparable tax incentives to customers of public power providers and rural electric cooperatives to employ innovative energy infrastructure investments.     
  • Tax incentives that lower the cost and risk of exploration and drilling for natural gas to enable the industry to explore new areas for domestic production, which provides consumers and businesses with affordable, secure and clean energy sources.
  • The 48C competitive tax credit for advanced energy manufacturing was a critical start in helping to increase domestic clean energy manufacturing.
  • Tax incentives have successfully stimulated the energy efficiency market for items such as high-efficiency appliances, combined heat and power (CHP), improvements to residential and commercial building envelopes, including insulation and windows, as well as new technologies such as fuel cells.