Bono Mack, Wu Introduce Fuel Cell Tax Parity Bill
Today Congresswoman Mary Bono Mack (CA-45) joined Congressman David Wu (OR-1) introducing legislation aimed to foster a more sustainable energy future and advance clean energy technology. The Fuel Cell Tax Parity Act of 2009, H.R. 3660, encourages the use of residential fuel cells.
Currently, our tax code treats residential and commercial fuel cell projects differently by giving a substantially larger production tax credit for commercial uses. However, other renewable energy sources, including solar, geothermal, and wind projects, are treated the same regardless of whether they are for commercial or residential use. Bono Mack and Wu's bill rectifies this disparity by making residential fuel cell installations eligible for the same tax credits as commercial fuel cells.
"This bill will enable more families to take advantage of clean, efficient energy in their homes," said Bono Mack. "To be more energy independent, we need to diversify our nation's energy portfolio and invest in both existing and new sources of energy. By offering equal tax credits for residents, this legislation will help expand use of exciting new technologies that are driving new businesses and creating jobs in our District. I am proud to join with Congressman Wu in this important effort that invests in our nation's energy future and promotes a cleaner environment."
"As we try to ensure that America has clean and renewable sources of energy, we need to establish policies to help individuals install these technologies and support industries that are already ahead of the curve," said Congressman Wu. "This bill will ensure that families have the opportunity to access the same tax credits that commercial developers get for using renewable power."
ClearEdge Power, which is a manufacturer of a combined heat and power fuel cell system, has an office in Palm Desert, CA. The commercial tax credits currently on the books are already benefiting local businesses and residents throughout the Coachella Valley.
"By introducing the Fuel Cell Tax Parity Act, Representatives Wu and Bono-Mack have proposed a major step towards creating an even playing field for clean energy technologies in the marketplace," said Russell Ford, ClearEdge Power president and CEO. "Until now, the majority of government investment in clean energy has been directed at solar, wind, geothermal, and other familiar technologies. As documented, there is a gap in these technologies' capacity to provide reliable, cost-effective distributed power on a broad scale. That gap must be filled if we as a nation hope to expand the use of clean energy and reduce carbon emissions. Fuel cells can fill that gap by providing homes and businesses with clean, affordable and reliable power that, dollar for dollar, is more efficient than wind and solar power."
"The U.S. Fuel Cell Council thanks Congressman Wu and Congresswoman Bono-Mack for introducing this legislation," said Bud DeFlaviis, Director of Government Affairs, US Fuel Cell Council. "They understand that if we're serious about energy independence, security, and conservation, fuel cells must be part of the equation. Small businesses and homeowners will benefit from fuel cells, as they provide users with reliable, base load power that is efficient and clean."