Larson, Panetta, Tenney, Carey Introduce Bipartisan Technology for Energy Security Act to Support Fuel Cell and Clean Hydrogen Development
East Hartford, CT –Today, Rep. John B. Larson (CT-01) announced the introduction of the bipartisan Technology for Energy Security Act with Reps. Jimmy Panetta (CA-19), Claudia Tenney (NY-24) and Mike Carey (OH-15) to extend the Inflation Reduction Act’s Investment Tax Credit for fuel cells and linear generators for another eight years.
“Connecticut is a global leader in the development of clean hydrogen and fuel cell technologies,” said Larson. “We have made progress in Congress to spur the development of American-made clean energy, but some of these tax credits have expired, leaving companies to scramble. The Technology for Energy Security Act is a bipartisan solution to ensure the continued growth of the fuel cell industry in our state and across the country. This legislation will ensure fuel cell innovators can invest in hydrogen’s future as a clean, reliable, and affordable energy source for years to come.”
“The Inflation Reduction Act was a historic step in advancing clean energy, but innovative technologies like fuel cells and linear generators need time to scale and deploy effectively,” said Panetta. “By extending these critical tax incentives, our bipartisan legislation ensures continued federal investment in American-made clean energy solutions that strengthen grid resiliency, reduce emissions, and create good-paying jobs. I’m proud to continue leading this effort to bolster domestic innovation and build a more sustainable and secure energy future.”
“In order to increase our energy independence, we must diversify our energy sources. By extending the traditional ITC for fuel cells, the section 48 credit will continue enabling the domestic market to develop and keep cutting edge fuel-cell technology and manufacturing out of Chinese hands, all while ensuring that fuel cells can provide energy-security and grid-reliability benefits across the nation. This tax credit will allow us to strengthen our domestic energy production and expand safe, clean, reliable American energy,” said Tenney.
Fuel cells and linear generators provide low-emission, decentralized energy for communities. Extending the Investment Tax Credit, which expired at the beginning of the year, will ensure the continued transition to the adoption of fuel cells and hydrogen as a reliable source of clean energy.
As Co-Chair of the bipartisan Hydrogen and Fuel Cell Caucus, Rep. Larson has long championed fuel cell technology and has been a forceful advocate for extending the Investment Tax Credit, securing its extension in both 2018 and 2022 as part of the Inflation Reduction Act.