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Congress Pushes For Storage, Renewables to Have Same Private Investment Incentives as Fossil Fuels

By Microgrid Resources Coalition posted 06-18-2019 16:47

  

Robert Walton, UtilityDive

Summary

A bipartisan and bicameral group of lawmakers has introduced a bill to allow clean energy technology companies to form master limited partnerships (MLP), a move aimed at boosting private investment.

Currently, only investors in fossil fuel-based technologies can access the tax advantages of the MLP structure. Lawmakers supporting the Financing Our Energy Future Act say a "straightforward, powerful modification of the federal tax code" could expand that structure to include solar, wind, combined heat and power, energy storage and others.

A separate bipartisan measure introduced last week, the Carbon Capture Improvement Act of 2019, would authorize the use of tax-exempt private activity bonds (PAB) to finance the purchase of carbon capture equipment at power plants and industrial facilities.

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