The leading lobby organisation for the solar business held a rally in the shadow of the Capitol the morning after the Senate Finance Committee unveiled a new megabill text that would stop tax credits for the development of renewable energy.
Industry executives and lobbyists have been frantically trying to save some of the energy tax breaks included in the Democrats’ 2022 Inflation Reduction Act. Last month, the House enacted the “One Big Beautiful Bill Act,” which would drastically reduce many of the credits. Furthermore, sources like solar and wind are not substantially better off with a Senate draft.
Before moving to meet with senators and aides, SEIA had a protest that comprised employees and executives from dozens of businesses. This year, it was the group’s ninth lobbying day.
How would new legislation impact renewable energy credits?
Studies warning about the legislation’s possible negative effects on projects and employment, especially in red areas, have been released by advocacy organisations and trade associations. Republican leaders have pledged to continue adjusting their tax, energy, and border spending package, so the legislation’s actual impacts are still up in the air.
Businesses and organisations believed that because of the economic effect of climate law credits, Republicans and President Donald Trump would be less aggressive in their targeting.
How are lobbying groups responding to credit rollbacks?
According to Mike Carr, a lobbyist with Boundary Stone Partners who works with businesses in the solar, battery, and allied industries, the House bill was a wake-up call. The American Council on Renewable Energy and the American Clean Power Association are two other significant groups advocating for energy subsidies.
Although it expressed gratitude to the Finance Committee for its efforts, the Edison Electric Institute made it apparent that it believes there is still a need for improvement.
The panel took a more pessimistic opinion of the House version, especially in regards to the transferability of tax credits, the short ending credit term, and the sourcing criteria. Although they have generally backed the congressional Republicans’ efforts, large corporate organisations like the American Petroleum Institute and the U.S. Chamber of Commerce have also been advocating for longer periods for some tax credits, such as those for carbon capture and hydrogen.
Who are the new lobbyists hired for clean energy
According to records submitted to Congress, several businesses and groups have hired new lobbyists in recent months to advocate for the credits they support. These include the Clean Energy Buyers Association, the Hydrogen Jobs Now Coalition, battery recycler Ecobat, chemical company Johnson Matthey, and battery manufacturer Energizer Holdings.
The fact that Energizer had hired a group of Democratic lobbyists from Washington Council Ernst & Young was cited by the far-right House Freedom Caucus.
