It’s a classic Washington scrum unfolding this week, with tax policy unsettled and a deadline for action looming. And renewable energy interests are joining the fray in a big way, fighting to make sure they aren’t left out in the cold.
On Tuesday, the American Wind Energy Association said failure to extend the expiring Section 1603 grant program, part of the 2009 American Recovery and Reinvestment Act, would result in the loss of tens of thousands of jobs. Yesterday, two broader-based groups – the Alliance to Save Energy (ASE) and the Business Council for Sustainable Energy (BCSE) – repeated that call, and added a host of other clean energy and energy efficiency tax incentives to their plea.
“Extensions of the section 1603 investment tax credit for renewable energy, 48C manufacturing tax credits, and range of energy efficiency tax incentives, plus additional funding for clean renewable energy bonds (CREBs), are crucial for continued job growth and expanded American manufacturing at a time when the economy is still recovering,” BCSE President Lisa Jacobson said in a press release. “These tax incentives have had bipartisan support on Capitol Hill and should be included in the package that moves forward.”
According to the groups, the 48C program provided tax credits for advanced energy manufacturing projects. The groups said that because it was capped at $2.3 billion and oversubscribed, an extension would allow previously qualified manufacturers to receive a credit.
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