More than 580 companies including the Business Council for Sustainable Energy (BCSE) are calling for the passage of legislation that provides the extension of expired and expiring tax incentives designed to promote the growth of clean energy and clean energy technologies. The groups submitted a letter to Congress stressing to the federal lawmakers that,”Businesses and investors need stable, predictable federal tax policy to create jobs, invest capital, and deploy pollution-reducing energy technologies.”
“Businesses and investors need stable, predictable federal tax policy to create jobs, invest capital, and deploy pollution-reducing energy technologies. Allowing the lapsed clean energy tax provisions to languish undermines investor confidence and jeopardizes continued economic and environmental benefits,” said Lisa Jacobson, BCSE President.
According to the Sustainable Energy in America Factbook published by Bloomberg New Energy Finance and BCSE, the use of lower and zero carbon energy sources has grown rapidly over the past seven years. BCSE says the clean energy tax provisions have a proven track record of helping scale up production and drive down the cost of clean energy technologies, thereby ensuring that market-ready technologies are deployed to their full potential.
Tom Kiernan, CEO of the American Wind Energy Association (AWEA) whose organization was also a signer of the letter, said of the need for these programs to have multi-year extenders, “American wind power is building momentum right now, but Congress has yet to pass these critical tax incentives, and the clock is ticking. The U.S. wind energy industry has rebounded from the loss of 23,000 jobs in 2013 due to policy uncertainty, and we can grow to support 380,000 jobs by 2030 with stable policy. That’s why we join hundreds of other voices in the business community to call on Congress to take action now.”
Kelly Speakes-Backman, Senior Vice President of Policy and Research at the Alliance to Save Energy and also a letter signer added, “Extension of the clean energy tax incentives is a bipartisan issue. This extension will bring stability to a growing private industry, while reducing pollution from the energy sector. The Alliance endorses this business-oriented approach to strengthen our economy and encourage energy efficiency and clean technology investments.”