May 28 2020

WASHINGTON, D.C. — Today, Senator Thom Tillis (R-NC) applauded the Treasury Department and Internal Revenue Service for issuing a notice that provides flexibility for companies utilizing the energy investment tax credit (ITC) and production tax credit (PTC) during the coronavirus pandemic. Last week, Senator Tillis was joined by Senators Lisa Murkowski (R-AK) and Susan Collins (R-ME) urging Treasury Secretary Steven Mnuchin to grant additional regulatory relief.

“This is a win for renewable energy companies in North Carolina and across the country who have been affected by the coronavirus pandemic,” said Senator Tillis. “I want to thank the Trump Administration for listening to our concerns and providing companies facing supply chain disruptions as a result of COVID-19 additional time to put their projects in service and continue expanding our renewable energy industry.”

Citizens for Responsible Energy Solutions Vice President of Government Affairs Chris Mathey: “At a time when all industries across the U.S. are struggling, the clean energy sector just got a much-needed jolt thanks to the leadership of Senators Grassley (R-IA), Murkowski (R-AK), Thune (R-SD), Collins (R-ME), and Tillis (R-NC) as well as Treasury Secretary Mnuchin. The one-year extension of the safe harbor provisions to claim the investment tax credit (ITC) and production tax credit (PTC) is a strong first step toward recovery for a sector facing mounting construction, development, and job losses. CRES looks forward to working with Congress and the Administration on additional measures benefiting other low-carbon technologies, such as carbon capture, that will help put Americans back to work.”