Washington, D.C. (April 21, 2021) — Edison Electric Institute (EEI) President Tom Kuhn today issued the following statement in response to the introduction of the Clean Energy for America Act in the U.S. Senate. This legislation takes a technology-neutral credit approach to revamping existing renewable energy tax credits based on the carbon intensity of the technology.

“EEI commends U.S. Senate Finance Committee Chairman Ron Wyden (D-OR) for his leadership and for introducing the Clean Energy for America Act. As we have seen over the last decade, tax policy can be a real driver to bringing carbon-free technologies like wind and solar to market.

“For electric companies to meet their long-term clean energy and climate goals, they will need new 24/7 carbon-free technologies and advanced renewables that are commercially available and affordable to customers. We appreciate that the Clean Energy for America Act is technology-neutral and does not pick winners or losers. It allows for the development and deployment of clean technologies that electric companies will need to meet their carbon reduction goals. It also benefits electricity customers by helping to make these new carbon-free technologies more affordable.

“We also appreciate that the bill is flexible and is designed to incentivize all entities that are building these clean energy technologies, including EEI member companies. This will unlock an even greater deployment of clean energy resources across the country.

“We are pleased that Sen. Wyden’s bill recognizes the importance of electrifying transportation to help reduce carbon emissions across the economy and expands the tax credits for electric vehicles and EV infrastructure. These credits will drive further growth in electric transportation, spur manufacturing, and lower costs for consumers, while putting even more EVs on U.S. roads.

“EEI’s member companies—America’s investor-owned electric companies—are leading the clean energy transformation and are focused on getting the energy we provide as clean as we can as fast as we can in the most efficient, affordable, and reliable way. It is important to us that we lead on clean energy in a way that gives us all the options, including making sure that we maintain the existing nuclear fleet.

“We look forward to working with Chairman Wyden to find ways to support existing nuclear and to getting effective tax policies in place now, so that we will have the resources needed to achieve a 100 percent clean energy future.”