Grumet applauds Biden Administration’s Guidance on Energy Communities Tax Credit
Editor’s note: Original press release published by American Clean Power on March 22, 2024.
On March 22, 2024, the American Clean Power Association (ACP) released the following statement from CEO Jason Grumet after the Treasury Department issued guidance expanding offshore wind eligibility in the Energy Communities Bonus Tax Credit. The new guidance provides additional pathways for offshore projects that site their operation and maintenance ports or have at least one point of interconnection in these communities to claim the bonus tax credit.
“The Biden Administration’s announcement today is a big win for communities in the clean energy transition. This guidance will spur the growth of offshore wind by encouraging significant private sector investments and new jobs in historically disadvantaged communities.
“Including ports in this bonus tax credit will revitalize hard working communities that have long been engines of economic growth. The Administration’s action is yet another example of the economic opportunities created by the clean energy transition.”
