BPA, ABC advocate for tax credit extensions

By Erin Voegele | September 09, 2016

The Biomass Power Association and American Biogas Council are among four renewable energy trade groups that sent a letter to congressional leaders on Sept. 6 advocating for the extension of expiring renewable energy tax incentives.

The letter, addressed to Speaker of the House Paul Ryan; Minority Leader Nancy Pelosi; Kevin Brady, chairman of the House Committee on Ways and Means; and Sander Levin, ranking democrat on the House Committee of Ways and Means, notes that the tax credits are currently set to expire at the end of the year. “Every day that passes without an extension increases the uncertainty for project developers in our industries and creates a further negative economic market signal to the investment community,” said the groups in the letter.

According to the groups, the looming expiration also puts their industries at a significant competitive disadvantage with wind and solar projects, particularly now that those industries have the certainty their tax incentives will be in place over a longer-term. “The end result—less reliable renewable baseload power will be deployed, which we believe is not the intent or desire of Congress and not in line with an all-of the-above energy strategy,” said the groups in the letter.

The letter was also signed by representatives of the National Hydropower Association and the Energy Recovery Council.