Branding America: Renewable Energy
Renewable Energy and the underlying industry has been carefully crafted with a series of tax incentives sponsored on the state and federal level. Many of these tax incentives have expired or will soon expire.
Federal tax incentives expire at the end of 2016. Will the Obama White extend or improve this renewable energy platform? If not, does the White House plan to repeal all foreign tariffs on renewable energy products to create a soft landing for the renewable energy industry?
The extension of the Section 179D tax deduction for energy efficient commercial and multifamily buildings, with the refinements to the provision included in S. 2260, the Expiring Provisions Improvement, Reform, and Efficiency (“EXPIRE”) Act of 2014 and those included in title I of the Energy Efficiency Tax Incentives Act (S. 2189) filed last Congress. Section 179D expired on December 31, 2014. This law has not been re-enacted or restored.
Is there a plan for a new structure to replace the former tax act which provided Americans affordable renewable energy options for their home? Can America obtain a new larger Energy Efficiency Tax Incentives Act which expands energy efficiency tax credits for commercial and multifamily buildings, manufacturing facilities, private schools, ranches, farms, and residential single family homes?
Is there a consortium of the largest renewable energy utilities and private companies to push a platform for new incentives and lowered tariffs? The group could include Duke Energy, Next Era, Solar City, First Solar, Berkshire Hathaway Energy, Plug Power, NRG, Pacificorp, Google, Sun Edison, Con Edison, Vivint Solar, NV Energy, DTE Energy, Sempra Energy, BP, Chevron, GAMESA, Siemens, and others.
Several high profile PRO-RENEWABLE ENERGY law firms and lawyers should sponsor this challenge as their pro-bono work during the upcoming decade. The shale gas is a huge mover of the forward curve in energy prices. Renewable energy will have to fight hard to maintain its current sweet spot in the wallets of state and federal budget and policy makers.
It is key to move quickly and push this initiative so that American progress in renewable energy is not lost. This mandate is directly from the people of America to their leadership in Washington.
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