Energy tax credits: What’s at stake https:/
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Posted On: 04/08/2025 8:44:26 AM
Energy tax credits: What’s at stake
https://www.catf.us/2025/04/energy-tax-credit...-at-stake/
ITC/PTC technology-neutral tax credits (45Y and 48E) unlock baseload power including through energy storage with renewables and by supporting advanced nuclear, fusion, and geothermal. We must increase baseload power supply to achieve energy security, including advanced nuclear and geothermal energy that are eligible for tax credits through 45Y and 48E. For example, 45Y is central to the business case for next-generation geothermal energy; without it, this emerging industry will be stifled and much less likely to develop in the United States. U.S. fusion energy companies have similarly structured deployment plans for the first fusion pilot plants around 48E; rolling back this support would undermine U.S. leadership in the race for commercial fusion energy. Preserving and enhancing these credits is essential for our overall energy security. Energy storage is another critically important component of energy security – 48E enables businesses to invest in energy storage that benefits American households and businesses, storing energy for power supply and American industrial manufacturing. Energy storage adds more baseload power to the grid, including by allowing renewable energy like solar to be stored and used at the time of day when people need energy. 48E credits apply both to converting fossil to stored electricity and to hydrogen as a storage carrier.
icymi
https://www.catf.us/2025/04/energy-tax-credit...-at-stake/
ITC/PTC technology-neutral tax credits (45Y and 48E) unlock baseload power including through energy storage with renewables and by supporting advanced nuclear, fusion, and geothermal. We must increase baseload power supply to achieve energy security, including advanced nuclear and geothermal energy that are eligible for tax credits through 45Y and 48E. For example, 45Y is central to the business case for next-generation geothermal energy; without it, this emerging industry will be stifled and much less likely to develop in the United States. U.S. fusion energy companies have similarly structured deployment plans for the first fusion pilot plants around 48E; rolling back this support would undermine U.S. leadership in the race for commercial fusion energy. Preserving and enhancing these credits is essential for our overall energy security. Energy storage is another critically important component of energy security – 48E enables businesses to invest in energy storage that benefits American households and businesses, storing energy for power supply and American industrial manufacturing. Energy storage adds more baseload power to the grid, including by allowing renewable energy like solar to be stored and used at the time of day when people need energy. 48E credits apply both to converting fossil to stored electricity and to hydrogen as a storage carrier.
icymi
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