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Senate budget bill would boost energy credits, trim tax increases – Roll Call

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Such upgrades could mean moving to smart systems designed to conserve energy, a growing market that includes companies like circuit breaker manufacturer Eaton Corp., which reported lobbying lawmakers on the bill’s clean energy incentives.

Dublin, Ireland-based Eaton “inverted,” or relocated its headquarters overseas from Cleveland after acquiring Cooper Industries PLC, an Irish firm, in 2012. It still has substantial domestic operations, however, and maintains its U.S. headquarters in Cleveland.

Offshore wind, solar trackers

Senate Democrats would also sweeten a new tax credit for advanced manufacturing by about $1 billion over the House version. Broadly speaking, credits for firms that manufacture wind or solar power-related components wouldn’t begin to phase out until after 2028, two years later than the House version.

Senators also inserted a specific 10 percent credit to defray costs associated with buying vessels that service offshore wind facilities, which was part of separate legislation authored by senators from Massachusetts, New Jersey, Georgia and Maryland. They include Finance members Elizabeth Warren, D-Mass., and Bob Menendez, D-N.J.

And there are credit set-asides for makers of solar components like tracker systems, which orient panels toward the sun, and inverters, which convert direct electricity into power that can be used by the electrical grid.

Read More: Senate budget bill would boost energy credits, trim tax increases – Roll Call


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