Statement From Gregory Wetstone, President and CEO of the American Council on Renewable Energy (ACORE):
“Renewable energy tax credits are proven tools to catalyze investment, accelerate deployment and lower delivered cost. Many renewable developers rely on tax equity transactions to monetize credits and build projects.
But today there are important constraints on the availability of tax equity due to the economic fallout of the pandemic at a time of growing demand to fund new projects. When tax equity isn’t available, those projects – and all the good-paying jobs that come with them – can’t move forward.
The Save America’s Clean Energy Jobs Act tackles this challenge by providing a direct pay option for monetizing credits so that critical renewable energy projects can continue to be built in spite of a COVID-constrained tax equity market.
We commend Senator Carper for introducing this timely legislation and look forward to working with lawmakers on both sides of the aisle to get direct pay enacted into law this year.”
Source: acore.org
