WASHINGTON, DC, May 13, 2022— National business association Advanced Energy Economy (AEE) delivered a sign-on letter to the U.S. Senate and White House Administration stressing the importance of production-based manufacturing credits as a means of growing the industry domestically.
The letter, signed by 21 advanced energy companies — including those that build and operate wind farms, solar power projects, long-storage batteries, and electric vehicle charging hubs across the country — calls on the Senate to pass a reconciliation package that creates transferable, production-based tax credits for domestic manufacture of advanced energy technologies.
“In order to unleash the next wave of American advanced energy manufacturing, federal policy must create the business environment that encourages a domestic supply chain—both by increasing the size of the clean energy market and by lowering the cost of U.S. manufacturing capacity,” the letter reads. “Passing a clean energy tax package that encourages renewables, battery storage and electric vehicle charging infrastructure will grow the advanced energy market. At the same time, federal manufacturing policy can support the cost-competitive production of domestic clean energy products in the U.S.”
AEE CEO Nat Kreamer led a group of clean energy business leaders in Washington meetings with key members of the U.S. Senate and White House Administration on Thursday to talk about the power of these policies to re-develop the American manufacturing industry, compete in the global marketplace, counter inflation, and address America’s climate targets.
“If you ask an advanced energy company what it will take for them to move their supply lines to North America, they’ll tell you production-based manufacturing credits are the ticket,” said Harrison Godfrey, AEE Managing Director of Manufacturing Policy. “These types of credits would directly lower the price of clean energy products, like solar panels, so domestic buyers can make an apples-to-apples price comparison with overseas competitors.”
“Tax credits of this kind are a much better strategy for onshoring clean energy supply chains than import tariffs, which really lead to raised costs and slower deployment,” added Godfrey.
- Blog by AEE CEO Nat Kreamer: For True Security from Dictators, America Needs to Become the Arsenal of Clean Energy (April 2022)
- Webinar: Made in America: Advanced Energy and the Opportunity for American Manufacturing featuring Sec. Granholm (August 2021)
- Report: Advanced Energy Manufacturing: An Economic Opportunity for the United States (June 2021)