FOR IMMEDIATE RELEASE
November 20, 2019
Contact: Andy Barnes
Washington, DC – November 20, 2019
Yesterday, Rep. Schneider (D-IL) introduced The Waste Heat to Power Investment Tax Credit Act in the House. This bill would provide a 30 percent investment tax credit for WHP technologies that begin production in the next five years. The bill was also included in the Growing Renewable Energy and Efficiency Now (GREEN) Act, a comprehensive package of bills designed to use the tax code to expand renewable energy and energy efficiency.
In response, CEBN President Lynn Abramson provided the following comment: “CEBN is thrilled by the introduction of the Waste Heat to Power Investment Tax Credit Act in the House. This legislation will provide incentives for companies to invest in waste heat to power assets that boost efficiency, lower energy costs, and bolster businesses. CEBN is encouraged by this bill’s progress, and we look forward to supporting its passage in the entire House going forward.”
The CEBN collaborated with our partners at the Heat is Power Association to mobilize over 60 businesses to sign onto a letter of support for similar legislation in the Senate.