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Senators Back Tax Credits for Clean Technology, Energy Storage by Staff HydroWorld, January 1, 2012

U.S. senators have introduced bills to provide tax credits for U.S. manufacture of clean energy technology and for investment in energy storage technologies including hydropower.

Sen. Debbie Stabenow, D-Mich., introduced the Make it in America Tax Credit Act, S.1764, Oct. 31 that would provide an additional $5 billion for the Advanced Manufacturers Tax Credit program. The bill was referred to the Senate Finance Committee.

The National Hydropower Association applauded the move, saying it would bolster clean energy manufacturing in the U.S. "As more and more developers look to construct all forms of hydropower throughout the country, ensuring manufacturing is done here will help us tap over 1 million new U.S. jobs in the hydropower industry," said NHA Executive Director Linda Church Ciocci.

NHA also hailed introduction Nov. 10 of the Storage Technology for Renewable and Green Energy Act, S.1845, by Sens. Ron Wyden, D-Ore.; Susan Collins, R-Maine; and Jeff Bingaman, D-N.M. The bill would provide a 20% investment tax credit up to $40 million for energy storage systems that are connected to the electric grid and a 30% investment tax credit of up to $1 million for on-site storage projects.