ACP Commends Biden Administration’s Directive on Energy Communities Tax Credit

Following the Treasury Department’s issuance of guidance expanding eligibility for offshore wind projects in the Energy Communities Bonus Tax Credit, CEO Jason Grumet of the American Clean Power Association (ACP) issued the following statement. The updated guidance offers supplementary avenues for offshore projects situated with their operation and maintenance ports or at least one point of interconnection within these communities to access 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.”