Key Policies for Hydro
Expanding renewable energy production and manufacturing in the U.S. are among the National Hydropower Association’s top priorities. In order to ensure that the local job creation and economic benefits that will result from expanded renewable energy deployment move ahead, NHA supports these common-sense energy policy reforms:
For development of new minimal impact projects, such as converting existing non-powered dams and closed-looped pumped storage projects, an expediting 2-year licensing pilot process should be created. Such a process will allow developers to attract financing and put hydro on equal footing with other renewable and clean energy resources in the marketplace for investment – at no cost to the federal government.
Long-term extensions of the Production Tax Credit and Investment Tax Credit for hydro projects are needed to accommodate the longer regulatory and development lead time associated with these larger, capital intensive projects.
The section 48C clean energy manufacturing tax credits and the Clean and Renewable Energy Bond (CREBs) program should also be extended, with additional funding provided for each.
A meaningful national standard is needed that recognizes the benefits of existing hydro, supports new development, grows the renewable electricity industry, supports jobs in the U.S., and attracts long-term investment.
Continued investment from the Department of Energy for all waterpower technologies (conventional hydropower, marine and hydrokinetic, and pumped storage) provides the necessary support for technological advancements in equipment and environmental mitigation that can be utilized by both the federal and non-federal hydropower system.