WASHINGTON, D.C. (July 25, 2019)— The Alliance for Industrial Efficiency, along with 60 other organizations, manufacturers, and trade associations, signed on to a thank you letter to U.S. Senators Tom Carper (D-Del.) and Ben Cardin (D-Md.) for introducing legislation to advance technology that reduces harmful emissions and conserves energy by converting wasted industrial heat to clean, usable electricity. The Waste Heat to Power Investment Tax Credit Act would provide a 10 percent investment tax credit on waste heat to power projects that begin construction before January 1, 2027.
Alliance for Industrial Efficiency executive director David Gardiner released the following statement:
“The Alliance for Industrial Efficiency applauds Senators Carper and Cardin for championing the Waste Heat to Power Investment Tax Credit Act. Congress has provided tax credits for other zero-emission technologies but previously failed to ensure that waste heat to power (WHP) qualified for the Section 48 investment tax credit, even though it is an innovative zero-emission energy resource. We encourage Congress to recognize WHP’s benefits to American manufacturers by promoting parity in the tax code.”