Reed Introduces Technology-Neutral Clean Energy Credit Legislation

Thursday, January 9, 2020 - 9:15am

Rep. Tom Reed, R-N.Y., and five colleagues–two Republicans and three Democrats–introduced the Energy Sector Innovation Credit Act of 2019, which would create a technology-neutral tax credit for clean energy and storage. H.R. 5523 would create a tax credit for 30 percent of the basis of any qualified emerging energy property placed in service during a taxable year. The bill would also create a production tax credit ranging from 30 percent to 60 percent, depending on the type of facility. Reed introduced a similar bill in 2018.