Council Supports Clean Energy Tax Credits

On August 8, 2019, the Energy and Environment Committee sent a letter to the entire New England Congressional delegation regarding a series of expiring and previously expired tax credits which could have a significant impact on renewable energy industries in New England. In particular, the letter urged members of the delegation to support legislation to reinstating tax credits that promote the investment in and production of offshore wind energy.  The Council noted that given the longer planning and permitting times for offshore wind development, many projects have yet to qualify for the tax credits. Without congressional action, the existing tax credits will expire at a critical time for offshore wind projects throughout the region.

Other tax credits that the Council expressed support for include measures to promote biofuel as well as fuel cells, both of which are growing industries in the region. In weighing in with the delegation, the Council stressed that by renewing these tax incentives, the federal government would send a clear message of stability to the renewable energy business community.

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