Larson, Panetta, Tenney introduce bipartisan legislation to further clean energy fuel cell and linear generator expansion.
Reps. John B. Larson (CT-01), Jimmy Panetta (CA-19), and Claudia Tenney (NY-24) announced the introduction of the Technologies for Energy Security Act to extend the Inflation Reduction Act’s (IRA) investment tax credit (ITC) for fuel cells and linear generators by another eight years.
Through the IRA’s historic investments to tackle the impact of climate change, fuel cells and linear generators are eligible for up to a 30 percent tax credit. Currently, the tax credits are set to expire in 2025.
John B. Larson said:
Fuell cells are going to play a critical role in America’s green energy future, and Connecticut has been a global leader in the development of clean hydrogen and fuel cell technologies.
“The bipartisan Technologies for Energy Security Act will ensure the fuel cell industry has the certainty it needs to continue to grow as a clean, reliable, and affordable energy source.”
Jimmy Panetta said:
Although we are making progress by providing incentives for clean energy and clean transportation through the IRA, the development and deployment of innovative technologies like fuel cells and linear generators takes some time.
“This bipartisan legislation would allow for more of that time by extending those incentives and ensuring continued federal investment in our domestic innovation to substantially reduce our carbon output. I continue to be proud to be a part of this effort to not only provide these types of tax incentives, but also provide them for the proper amount of time necessary for people to reasonably invest in our country’s innovation for a more resilient and sustainable future.”
Fuel cells and linear generators provide low-emission, decentralized energy and increased resiliency for communities. While many other low-carbon energy technologies are dependent on Chinese manufacturing and supply chain components, these innovative technologies are primarily manufactured in the United States.
As Co-Chair of the bipartisan Hydrogen and Fuel Cell Caucus, Rep. Larson has long championed fuel cell technology and has been a forceful advocate for extending the Investment Tax Credit, securing its extension in both 2018 and 2022 as part of the Inflation Reduction Act.
Larson, Panetta, Tenney Introduce Bipartisan Legislation to Further Clean Energy Fuel Cell and Linear Generator Expansion, East Hartford, CT, October 5, 2023