Congress Contemplates Renewable Energy Tax Credits

As Congress comes back into session next week, tax provisions are at the top of the agenda from now through the end of the year. While Republicans are looking to make some tax extenders permanent and eliminate others, Democrats are negotiating hard to make renewable energy credits permanent or at least secure long sunsets. Renewable credits, which include the Production Tax Credit (PTC), could also see forward movement in crude oil export ban negotiations.

The Department of Energy continues to invest in clean tech with their latest interest in fuel cell and hydrogen technologies. On October 8, the DOE announced it was investing $20 million in 10 projects to advance innovation in this area. The same day, the agency released a report detailing how the industry, which registered $2.2 billion in sales last year, is rapidly growing. For more on these developments and the latest from D.C., read this week’s ML Strategies Update!