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The Clock is Ticking on Tax Credits for Renewable Energy

The Clock is Ticking on Tax Credits for Renewable Energy

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Tax credits for renewable technologies such as geothermal heat pumps, small wind projects and combined heat/power generation are scheduled to expire at the end of 2016 unless Congress acts this month. Doug Dougherty of GEO (Geothermal Heat Pumps), Lloyd Ritter of the Distributed Wind Energy Association and Combine Heat & Power Association head Dale Louda, joined by Billie Kaumaya of the National Association of Home Builders will discuss the tax issue and what is at stake if the credits are not extended at a National Press Club Newsmaker on Tues., Nov. 29, at 2 p.m. in the Club’s Zenger Room.

In last year’s “omnibus” legislative package, Congress negotiated, in exchange for lifting the oil export ban, an extension of existing energy tax credits—but only for wind and solar technologies, other technologies that qualified for energy tax credits were left out of the agreement.

This group of promising energy sources often referred to as “orphan” technologies, collectively constitute the backbone of an all-of-the-above approach to energy production. Yet after 2016, hydropower, geothermal steam power, combined heat and power, closed- and open-loop biomass, municipal solid waste power, geothermal heat pumps, fuel cells, microturbines and so-called “small wind” will all cease to benefit from tax credits that are viewed as essential to their continued roll-out and eventual adaptation on a commercially viable scale.

The National Press Club is located on the 13th Floor of the National Press Building, 529 14th Street, N.W., Washington, D.C. 20045. As with all Newsmaker events, this forum is open to credentialed media and Press Club members, free of charge. No advance registration is required.

Source:prnewswire

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Anand Gupta Editor - EQ Int'l Media Network

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