Murkowski, Collins, and Tillis Urge Regulatory Relief for Renewable Energy Industry
U.S. Senator Lisa Murkowski, R-Alaska, today led a group of senators in sending a letter to Treasury Secretary Steven Mnuchin urging additional regulatory relief for companies utilizing the energy investment tax credit (ITC) and production tax credit (PTC). Senators Susan Collins, R-Maine, and Thom Tillis, R-N.C., also signed the letter.
“At a time when the renewable energy industry is facing significant challenges, these steps will help protect American jobs and provide investor certainty as we work to rebuild our economy,” the Senators wrote.
The Senators requested an extension of start of construction safe harbor regulations for the ITC and PTC to account for equipment delivery delays stemming from COVID-19. They also requested the modification of physical work test requirements to allow continuous efforts to qualify for relief, as many projects are unable to maintain continuous construction due to COVID-19 and other delaying factors.
This letter follows last month’s letter from a bipartisan group of Senators, including Murkowski, requesting a more narrow change to ITC and PTC continuity safe harbor regulations.
Murkowski is Chairman of the Senate Energy and Natural Resources Committee.