STATEMENT: CAP Praises Final Rule on Technology-Neutral Clean Energy Tax Credits

Washington, D.C. — Today, the Treasury Department released final rules for the technology-neutral clean energy tax credits under the Inflation Reduction Act. The two tax credits will create nearly 31,000 American jobs, reduce annual household electricity bills by up to $74, and lead to nearly 200 million tons of power sector emissions reductions by 2030. In response, Trevor Higgins, senior vice president of the Energy and Environment department at the Center for American Progress, issued the following statement:

These tax credits will help the United States meet its climate objectives while lowering costs for households, providing certainty for the developers of zero-emission electricity projects, and securing a reliable electric grid. This is another crucial investment by the Biden administration in clean and affordable electric power that is built with good-paying jobs. Protecting these tax credits from changes or repeal is essential to lowering energy costs and keeping communities safe from harmful pollution.

For more information or to speak with an expert, please contact Sam Hananel at [email protected].