HomeDecentralized EnergyCogeneration CHPUS fuel cell firms applaud reinstated tax credit

US fuel cell firms applaud reinstated tax credit

US fuel cell companies this week applauded the reinstatement of an investment tax credit for their products.

The tax credit had been extended for solar and wind power in 2015, but fuel cells were left out.

A budget plan passed by Congress last week has now extended the credit for fuel cells through 2022, with a reduction from 30 per cent to 26 per cent in 2020 and a further reduction to 22 per cent scheduled for 2021.

Statements from fuel cell manufacturers said the tax credit will be an important tool in keeping the countryࢀ™s fuel cell industry in place and allowing it to scale.

According to trade group the Fuel Cell and Hydrogen Energy Association (FCHEA), the sector provides more than 10,000 US jobs and supports tens of thousands of additional jobs through its customers, suppliers and installers.

The reinstated incentive will help to support decentralized energy applications such as on-site power production, combined heat and power (CHP) and microgrids, FuelCell Energy said, as well as facilitating carbon reduction, market expansion and product uptake.

Andy Marsh, CEO of manufacturer Plug Power, said Congress had ࢀœonce again created a fair and level playing field which enables the best and most beneficial technologies to prevail in the marketplace on merit. This tax credit extension is a win for the fuel cell industry and it is protecting good-paying American manufacturing and service jobs.ࢀ

And Chip Bottone, CEO of FuelCell Energy, said the reinstatement ࢀœis a smart investment for Americaࢀ™s economy, environment, energy reliability and objectivity in the energy industry. It levels the playing field for American fuel cell manufacturers, enabling us to continue bringing value to the economy by providing ultra-clean, efficient fuel cell solutions.ࢀ