IDEA has signed on in support of the reintroduction of the Financing Our Energy Future Act, a bipartisan bill to level the playing field for clean energy projects by giving investors access to a decades-old, tax-advantaged corporate structure currently only available to fossil fuel-based energy projects.
At a time when the United States needs to increase domestic energy production and leaders of both political parties say they support an all-of-the-above energy strategy, Congress should level the playing field and give all sources of domestic energy a fair shot at success.
The legislation is a powerful tweak to the federal tax code that could unleash significant private capital into the energy market. It would level the playing field between traditional and new energy businesses by helping energy projects form Master Limited Partnerships (MLPs), which combine the funding advantages of corporations and the tax advantages of partnerships.
"The International District Energy Association (IDEA) is pleased to support the “Financing our Energy Future Act” as introduced by Senator Coons (DE-D). This legislation can provide a proven financing platform to leverage greater deployment of district energy systems, combined heat & power and microgrids in cities, communities and campuses at a time when our energy infrastructure requires renewal. These technologies can enhance resiliency, increase energy efficiency and strengthen local economies while also reducing carbon emissions." - Robert Thornton, IDEA President & CEO
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