Reps. Speier, Stivers Reintroduce Legislation to Advance Energy Technology
WASHINGTON, DC – Last week, Representatives Jackie Speier (D-CA) and Steve Stivers (R-OH) reintroduced the Energy Tax Fairness Act, a bipartisan bill which will help manufacturers and businesses reduce energy costs, mitigate pollution, and bring much needed parity to the Tax Code for participants in the distributed energy generation market.
Specifically, this legislation will encourage the development of linear generators, a low-cost and highly efficient technology that can produce electricity from almost any fuel source, including clean natural gas and biomass. Currently, U.S. companies developing this technology are at a competitive disadvantage because linear generators do not qualify for an investment tax credit under section 48 of the Tax Code. The tax credit is available to many other existing distributed generation solutions, such as solar, fuel cells, microturbines and combined heat and power systems.
“My district in the San Francisco Bay Area is at the forefront of developing creative solutions that prove we don’t have to choose between jobs and sustainable energy - we can have both,” Speier said. “This bill ensures that the emerging technology of linear generators will have the ability to create jobs and compete on the open market without the fear of being unfairly punished by the tax code. Both energy security and environmental safety are key to our children’s future.”
“I support an all-of-the-above energy strategy to encourage the production and development of both traditional and renewable sources of energy,” Stivers said. “Our Tax Code plays an important role in allowing new and innovative sources of energy to come to market, and this bill will allow companies to compete on a level playing field. I am proud to reintroduce this legislation that will create jobs, enhance energy security and lower costs for Americans.”
Linear generation technology can be used meet large- and small-scale needs, benefiting in particular commercial and industrial users, public sector facilities, like schools and hospitals, and residential homes. Additionally, these generators provide power that can run uninterrupted, even in an electrical grid outage.
The Energy Tax Fairness Act will begin to roll back the harmful provisions of the Tax Code that picks winners and losers, giving this technology an equal footing in the developing energy market.