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Energy Industry Associations Tell FERC that DOE Proposal to Subsidize Coal, Nuclear Power Plants is Unsupported by Record, Would Throw a Costly Wrench into Electricity Markets

Joint filing from broad array of groups takes aim at financial “Beneficiaries” as the only entities to support the DOE proposal – and whose filings fail to establish that the proposed subsidies are needed or legally valid

WASHINGTON, D.C. Nov. 7, 2017 – A diverse group of a dozen energy industry associations representing oil, natural gas, wind, solar, efficiency, and other energy technologies today submitted reply comments to the Federal Energy Regulatory Commission (FERC) continuing their opposition to the Department of Energy’s (DOE) proposed rulemaking on grid resiliency pricing, in the next step in this FERC proceeding. Action by FERC is expected by December 11.

ACORE Statement on the House Ways & Means Committee's Tax Proposal

Statement by Gregory Wetstone, American Council On Renewable Energy (ACORE), President and Chief Executive Officer

Washington, D.C., November 3, 2017 – “The energy credit provisions detailed in the House Ways & Means Committee's tax proposal released today are an assault on what has been one of the nation’s most important economic drivers, the U.S. renewable energy industry. Over the past six years, the renewable energy sector has been the largest source of domestic private sector infrastructure investment, with nearly $100 billion in investment over the last two years alone. Current tax law has been essential to this growth, including the bipartisan tax law compromise in 2015 in which wind and solar credits phase down and out over the next few years.

The House tax bill abandons this bipartisan compromise, substantially reducing the value of the wind tax credit and phasing out a long-term solar credit. Most destructively, the bill imposes new criteria for how wind projects qualify for the tax credit, retroactively overruling Treasury Department guidance that has been relied upon by companies supporting tens of billions of dollars in recent domestic infrastructure investment.

It is noteworthy that the architects of the House bill focus their efforts to save funds on the dwindling temporary incentives for renewable energy, rather than the permanent incentives for fossil fuel, which have in many cases been on the books for more than 90 years. The reductions to renewable energy incentives will, according to the Joint Committee on Taxation, total more than 60 times the dollars saved in the largely symbolic reductions in fossil fuel incentives.

ACORE and its member companies look forward to working with legislators on both sides of the aisle in support of tax changes that level the playing field and promote continued investment in renewable energy.”

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About ACORE
The American Council on Renewable Energy (ACORE) is a national non-profit organization leading the transition to a renewable energy economy. With hundreds of member companies from across the spectrum of renewable energy technologies, consumers and investors, ACORE is uniquely positioned to promote the policies and financial structures essential to growth in the renewable energy sector. Our annual forums in Washington, D.C., 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. For more information, visit the ACORE website and follow @ACORE on Twitter.

Media Contact:
Gil Jenkins
Vice President of Communications, ACORE
jenkins@acore.org | 202.777.7584

ACORE Statement on the Reintroduction of the Master Limited Partnerships Parity Act

Statement by Gregory Wetstone, American Council On Renewable Energy (ACORE), President and Chief Executive Officer

Washington, D.C., October 25, 2017 – “We commend Senator Chris Coons (D-DE) and Jerry Moran (R-KS) for their leadership in once again introducing this important legislation to level the playing field and promote greater private investment in our nation’s renewable energy resources.

Energy Industry Associations File Comments with FERC Opposing Rule Proposed by Energy Secretary Perry to Subsidize Coal, Nuclear Power Plants

Joint filing says DOE proposal would “prop up uneconomic generation that is unable to compete and not otherwise needed for reliability”

WASHINGTON, D.C. October 23, 2017 – A diverse group of 12 energy industry associations representing oil, natural gas, wind, solar, efficiency, and other energy technologies today submitted comments to the Federal Energy Regulatory Commission (FERC) in response to the Department of Energy’s (DOE) proposed rulemaking on grid resiliency pricing. In joint comments, this broad group of energy industry associations urged FERC not to adopt DOE’s proposed rule to provide out-of-market financial support to uneconomic coal and nuclear power plants in the wholesale electricity markets overseen by FERC.

ACORE Statement to the International Trade Commission in Favor of a Recommendation of Non-Restrictive Trade Remedies

Remarks as Prepared for Delivery by Gregory Wetstone, President and CEO, American Council on Renewable Energy

WASHINGTON, October 3, 2017 – "I am Greg Wetstone, president and CEO of the American Council on Renewable Energy. ACORE represents hundreds of leading companies from across the renewable energy sector, including key U.S. companies active in solar generation, manufacturing, and development, as well as those investing and financing billions of dollars in solar projects each year and those procuring solar power to meet energy requirements, service critical energy functions and achieve sustainability objectives. Our members will be directly impacted by the remedies recommended by the Commission.

Energy Industry Associations Call on FERC to Expand Deliberative Process Before Unprecedented Rulemaking

WASHINGTON, October 2, 2017 – A group of 11 energy industry associations representing natural gas, wind, solar, rural electric cooperatives and other energy technologies today filed a motion at the Federal Energy Regulatory Commission (FERC) following the Department of Energy’s (DOE) proposed rulemaking on grid resiliency pricing. In their motion, energy industry associations called on FERC to move forward with a deliberative process that considers stakeholder input as it determines whether and how to move forward with a rulemaking.

ACORE Statement on Department of Energy’s Proposed Rulemaking for the Grid Resiliency Pricing Rule

Statement by Todd Foley, ACORE Senior Vice President, Policy & Government Affairs

WASHINGTON, September 29, 2017 – “We’re concerned this proposed rulemaking uses grid resilience as an excuse to prop up plants that have not been shown to be needed, preventing consumers from buying the power they want to buy. On-site fuel power sources have not helped with severe weather events such as the Polar Vortex where coal piles froze, Hurricane Harvey where coal piles flooded, and the Fukushima event where the nuclear plant ceased to operate.

ACORE Statement on Senator Wyden’s Newly Introduced Legislation to Improve Grid Flexibility

Statement by Todd Foley, ACORE Senior Vice President, Policy & Government Affairs

WASHINGTON, September 28, 2017 – “We commend Senator Ron Wyden (D-OR) for his leadership in introducing legislation to promote a more reliable, efficient and flexible electricity grid.

This proposal would accelerate the development of important emerging technologies and processes that enable a more reliable, resilient and secure power system, including energy storage, improved electricity market design, and more dynamic communication and information flows.

Media Advisory: Future of Western U.S. Renewable Markets in Focus at ACORE Finance West

MEDIA ADVISORY acore logo small
September 25, 2017

 

Future of Western U.S. Renewable Markets in Focus at ACORE Finance West

WHAT: ACORE Finance West, coming up on Oct. 12 in San Francisco, convenes a select group of prominent renewable energy executives, investors, corporate purchasers and other top transactional professionals to create a roadmap for continuous finance and development of renewable energy in the Western U.S.

ACORE Statement on US International Trade Commission Decision on Remedies in Section 201 Case

Statement by Gregory Wetstone, American Council On Renewable Energy (ACORE), President and Chief Executive Officer

WASHINGTON, September 22, 2017 – “Today’s decision by the U.S. International Trade Commission (ITC) raises serious concern about the potential for tariffs that could increase electricity prices and threaten a thriving solar industry that is one of the nation’s most important economic drivers."

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