Clean Energy Buyers Association CEO Rich Powell today commented on the U.S. Treasury Department’s guidance for federal energy tax credits:

Today’s timely Treasury guidance for the 48E and 48Y tax credits provides certainty for the business community by honoring existing contracts while maintaining stringent accountability for the appropriate use of taxpayer dollars, which follows the lead of the U.S. Senators who worked hard to deliver and maintain this legislative agreement. Meeting these new standards will be challenging, but we are confident that American energy buyers will help developers rise to the challenge of delivering all sources of power critical to the continued growth of the U.S. economy. 

We recognize the importance of supporting American companies to thrive in a global economy and the vital role that low-cost, reliable, carbon emissions-free energy plays when competing with China. We look forward to working constructively with the administration and Congress on foreign entities of concern guidance and reforming the permitting of energy projects and planning of enhanced and reliable electricity transmission.