The Union of Concerned Scientists – 2013-12-01 23:19:40
(December 1, 2013) — A few months back, UCS wrote to ask its members for support in leveling the playing field for clean energy. More than 27,000 UCS supporters responded by sending messages to Congress.
Policy makers heard you and took action, adding their names as co-sponsors to bipartisan legislation that will give renewable energy access to the low-cost financing available to the fossil fuel industries. Now, the lead co-sponsor of the bill is asking for your help once again.
Renewable energy has long been denied access to certain tax benefits and low-cost financing made available to the fossil fuel industry for decades. Bipartisan legislation now before the US House and Senate will finally give renewable energy projects access — unlocking billions of dollars of low-cost financing for clean energy.
Right now, Congress has an opportunity to level the playing field on which renewable energy competes with fossil fuels for private investment.
For decades, fossil fuel producers have benefited from the ability to form a special kind of corporate structure, known as Master Limited Partnerships, that gives them access to low-cost financing and special tax benefits. But when Congress created Master Limited Partnerships in 1980, they left out renewable energy.
It is time for Congress to unlock billions of dollars of low cost financing for clean energy by allowing renewables to be eligible for an important tax benefit that the oil, natural gas, and coal industries have had for decades.
Tell your member of Congress today to support a level playing field for clean energy.
Please make your letter personal by adding in your own thoughts and concerns. Every letter makes a difference, but customized letters have the greatest effect!
Let’s make sure Congress does not fail to seize this opportunity to ensure renewables compete on more even ground with fossil fuels. This should be a clean energy bill Congress can agree on.â€¨â€¨
Free the Market for Renewable Energy
I am writing to urge you to support and cosponsor the bipartisan Master Limited Partnerships Parity Act, which would help to level the playing field on which renewable energy producers compete with fossil fuels for financing.
Since 1980, Congress has allowed coal, oil, and natural gas producers to form Master Limited Partnerships (MLPs) to raise capital on the stock market, while enjoying special tax benefits. Meanwhile, renewable energy producers have been denied access to the same opportunity.
This bill would, for the first time, allow producers of many types of renewable energy, including wind and solar power, to take advantage of MLPs to compete more freely for investors and low-cost financing. Combined with other federal tax credits, the Master Limited Partnerships Parity Act will help remove a key market barrier that’s currently inhibiting the development of renewable energy.
MLPs have played a similar role in the oil, gas, and coal industries over the past 30 years by supplementing dozens of other federal and state tax incentives available to those industries.