U.S. Rep. Steve Stivers (R-OH) has introduced legislation that would amend the federal tax code to incentivize private-sector investment in advanced energy technologies that use cleaner fuel sources to reduce harmful emissions.
The Energy Tax Fairness Act would address a provision of the tax code that excludes linear generators from investment tax credits, putting companies that develop the technology at a competitive disadvantage.
“I support an all-of-the-above energy strategy to encourage the production and development of both traditional and renewable sources of energy,” Stivers said. “Our tax code plays an important role in allowing new and innovative sources of energy to come to market, and this bill will allow companies to compete on a level playing field. I am proud to reintroduce this legislation that will create jobs, enhance energy security and lower costs for Americans.”
Linear generators use the linear motion of an energy piston to convert a wide range of fuel sources like natural gas and biomass into low-cost electricity that can be used in the residential, commercial, industrial and public sectors.
The Energy Tax Fairness Act, which Stivers introduced with U.S. Rep. Jackie Speier (D-CA), would make development costs for the technology eligible for investment tax credits that other generator solutions already have, such as solar, fuel cells, microturbines and combined heat and power systems.
“My district in the San Francisco Bay Area is at the forefront of developing creative solutions that prove we don’t have to choose between jobs and sustainable energy — we can have both,” Speier said. “This bill ensures that the emerging technology of linear generators will have the ability to create jobs and compete on the open market without the fear of being unfairly punished by the tax code. Both energy security and environmental safety are key to our children’s future.”