Statement on Energy Tax Extenders Agreement
Washington, D.C. (December 17, 2019) – The following is a statement from Malcolm Woolf, President and CEO of the National Hydropower Association, on Congress’ year-end spending deal that included an agreement to extend a number of expired energy tax credits. For hydropower and marine energy, the Production Tax Credit and Investment Tax Credit were extended through the end of 2020, with 2018 and 2019 included retroactively.
“The restoration of tax incentives for hydropower and marine energy, as part of Congress’ year-end spending deal, reinforces the critical role it is playing to decarbonize the U.S. energy mix. Hydropower is a clean energy force multiplier that enables greater amounts of wind and solar onto the grid. The extension through 2020 of the PTC and ITC is a step in the right direction. We look forward to working with Congress on long-term challenges facing the industry, such as licensing reform and support for energy storage.”