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Incoming President and CEO Greg Wetstone praises legislation for renewable energy

For Immediate Release – December 16, 2015

Washington D.C. – In response to today's joint tax extenders-omnibus deal, reached in an overwhelming bipartisan manner by both the House and Senate, ACORE's leadership applauded the deal for renewable energy.

“Congress is taking an important step forward with their agreement to extend the tax credits for renewable energy.  The tax package provides critical policy certainty for the solar and wind energy sectors with phase-down schedules that provide vital guidance for business and investment planning,” said Gregory Wetstone, incoming President and CEO at the American Council On Renewable Energy (ACORE). “This is essential progress, but there is more work to be done in support of other renewable energy technologies whose credits were not extended past 2016.”

Wetstone added, “Also left for another day are important long-term questions regarding how the phase-down schedules for wind and solar power complement the effort to achieve the emission reductions necessary to meet the requirements of the Clean Power Plan and the international accord recently concluded in Paris.  We look forward to working with policymakers and companies across the renewable sector to meet these important challenges and continue the transition to a lower carbon economy.”

ACORE's policy team developed an overview of the tax extenders and omnibus bills as they relate to renewables, available here: http://acore.org/images/uploads/Summary-Tax-Incentives-FY16-FINAL.pdf

ACORE's US Partnership for Renewable Energy Finance (US PREF) also played an integral role in the framing of legislation related to renewable energy throughout 2015, with publications like: Why Policy Matters: Renewable Energy Market Momentum at Risk and comments provided to the Senate Tax Committee. US PREF also convenes some of the largest and most influential players in the renewable energy space to educate lawmakers on the effects of public policy across the industry.

ACORE spokesman, Kevin Haley, added his support for the deal, saying "From retail giant Amazon to top American developers like First Solar, ACORE members across the board will benefit from the basic certainty that this legislation provides. Congress should be commended for keeping America's hottest energy industry open for business."

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About ACORE:

ACORE is a national non-profit organization dedicated to providing value to the renewable energy sector through policy changes, market development and finance.  With hundreds of member companies from across the spectrum of renewable energy technologies and platforms, and close ties to renewable energy investors, ACORE is uniquely positioned to promote the policies and financial structures essential to growth in the renewable sector.  The organization’s annual conferences in Washington, New York and San Francisco set the industry standard in providing important venues for key leaders to meet; discuss recent developments; and hear the latest from senior government officials and seasoned experts. Additional information is available at www.acore.org

 

ACORE Media Contact:
Kevin Haley, ACORE

haley@acore.org, (202) 777-7584

 

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The American Council On Renewable Energy
 

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