People Are Talking … about the Renewable Energy and Energy Conservation Tax Act of 2007

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People Are Talking … about the Renewable Energy and Energy Conservation Tax Act of 2007

The following press release was published by the U.S. Congress Committee on Ways and Means on Aug. 3, 2007. It is reproduced in full below.

They just keep coming. A coalition of groups has reached out to Congress to offer their support for H.R. 2776, the Renewable Energy and Energy Conservation Tax Act of 2007. Here`s a sample of what they`re saying.

National Resource Defense Council, Friends of the Earth, Greenpeace, National Environmental Trust, Physicians for Social Responsibility, Public Citizen, Sierra Club, Union of Concerned Scientists

“This bill would be a significant step forward in reducing global warming pollution and boosting the emerging clean energy technology in our country… The clean energy provisions in H.R. 2776 will achieve significant reductions in global warming pollution, help create jobs here in America, and save consumers and businesses money."

National Wildlife Federation

“In addition to providing an important down payment on clean energy technologies, the bill also follows through on the Speaker’s commitment to cut oil and gas subsidies…. Together with the carbon audit of the tax code, these provisions begin the overdue process of balancing a tax code that has been tilted toward the oil and gas industry for nearly 100 years. H.R. 2776’s incentives for clean energy will significantly reduce global warming pollution, help create new U.S. jobs, and save consumers and businesses money."

American Wind Energy Association

“Strengthening our nation’s energy security, revitalizing rural economies, and addressing climate change are all central goals of the 110th Congress. Wind energy is a large part of the answer. Making significant progress on these priorities requires investing the necessary resources to allow new industries to achieve these goals and continue creating new jobs. We greatly appreciate the investment the Committee has made in renewable energy by providing a long-term extension of Section 45 and a new incentive for small wind systems."

Solar Energy Industries Association

“This progressive bill supports individual Americans and businesses that make a real contribution towards U.S. energy independence by installing solar power at their homes and businesses. The Renewable Energy and Energy Conservation Tax Act of 2007 would have significant economic, energy, and environmental benefits if enacted. Passage would generate 70,000 clean energy industry jobs by 2016 and billions of dollars in economic investment in all 50 states in just the solar and fuel cell energy sectors of our economy alone."

National Electrical Manufacturers Association, American Council for an Energy Efficient Economy, American Standard, ASHRAE, Association of Energy Engineers, Edison Electric Institute, Association of Appliance & Equipment Manufacturers, and many others

“We very much appreciate and support the extension of the energy efficient commercial buildings tax deduction in the House energy tax bill. Commercial buildings consume more than one-third of the nation’s electricity and technologies are available to substantially reduce this consumption. The tax deduction provides a way for building owners to invest in these energy saving technologies."

The National Biodiesel Board

“The National Biodiesel Board (NBB) strongly supports the provisions in H.R. 2776 to extend the income tax credits and blenders excise tax credit that comprise the biodiesel tax incentive through Dec. 31, 2010… Your efforts to extend the biodiesel tax incentive will clearly help the U.S. reap the energy, economic and environmental benefits of expanded biodiesel production."

American Public Power Association

“The American Public Power Association (APPA) supports the new $2 billion Clean Renewable Bond (CREB) program included in H.R. 2776 because the program improvements in the bill acknowledge that the original congressional intent of the statute was to provide public power systems with a financial incentive for the construction of renewable energy projects similar to the production tax credit utilized by for-profit utilities. We applaud your efforts in creating a new CREB program and look forward to working with you to obtain congressional approval of H.R. 2776."

National Rural Electric Cooperative Association

“[I]ncentives such as the Clean Renewable Energy Bonds (CREBs) ensure that as not-for-profit electric cooperatives face growing challenges in providing the cleanses possible resources, they will have incentives similar to those available to for-profit utilities to invest in new technologies... Electric cooperative member-owners are very enthusiastic about these programs, and H.R. 2776 represents a thoughtful approach to assisting local and rural communities in fully harnessing all available resources in a carbon-constrained future."

U.S. Fuel Cell Council

The 115-member US Fuel Cell Council offered its industry’s “thanks and full support for H.R. 2776, legislation that would, among other things, extend and improve the investment tax credit for fuel cell installations… The long term extension will provide fuel cell developers and their investors and suppliers confidence to make investments that will lead to innovation and accelerate product development. The adjustment in the credit cap should open new markets and expand existing markets."

Geothermal Energy Association

“The Geothermal Energy Association (GEA) supports the four-year extension of the Section 45 Production Tax Credit and the expanded allocation for the Clean Renewable Energy Bonds (CREBs) included in this legislation." H.R. 2776 would “result in a significant expansion of geothermal energy production, create tens of thousands of new jobs and stimulate tens of billions of dollars of new investment in geothermal energy production in the U.S."

Austin Energy - The City of Austin’s Municipally Owned Electric Utility

“H.R. 2776 will provide needed incentives for consumers to buy plug-in hybrid vehicles and allow automakers to sell the plug-in hybrids at competitive prices… The societal benefits provided by plug-in hybrid vehicles - energy independence, clean air and expanded markets for American agriculture justify the tax credits. H.R. 2776 will have a positive impact on energy independence and reduction of greenhouse gases by supporting investment in the production of renewable energy."

National Hydropower Association

“The National Hydropower Association (NHA) appreciates the Committee’s approval of the four-year extension of the Section 45 Production Tax Credit (PTC); the inclusion of ocean, tidal and hydrokinetic in-stream technologies within the PTC; and the additional support for the Clean Renewable Bonds (CREBs). These provisions will enable the development of more renewable energy at existing hydropower facilities around the country and spur investment in nascent waterpower technologies that hold great promise."

National Renderers Association

“This legislation is vital to maintaining important incentives and the underlying federal tax structure necessary to fostering a viable renewable, alternative fuels industry in the U.S., and the National Renderers Association (NRA) looks forward to helping you move the bill to final enactment."

Source: U.S. Congress Committee on Ways and Means

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