Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.
America has become a global leader in renewable electricity production, ranking first in electricity generation from non‐hydroelectric renewable energy and trailing only China in total renewable power capacity.
Successfully developing and integrating renewable power resources into the nation’s energy portfolio will, however, require a long‐term energy policy framework that recognizes emerging trends and addresses key barriers to investment in renewable energy production, distribution and use. Such a framework should include policies that support the pre‐commercial development of renewable energy resources and provide investors with predictable regulatory and financial environments, with the objective of transitioning renewable energy to a state of unsubsidized competitiveness.
BRT CEOs call on Congress and the Administration to adopt policies that:
- Continue to support federally sponsored research, development, and demonstration projects for pre‐ commercial renewable electricity generation and transportation fuels, with an emphasis on performance, emissions reductions and technology neutrality.
- Provide wind‐powered electricity generation with a smooth transition to an era of unsubsidized competitiveness by extending the wind production tax credit so that the benefit is gradually reduced and ultimately eliminated.
- Ensure that decisions regarding tax incentives for renewable resources are: designed to address well‐documented market inefficiencies; applied only to those fuels and technologies with a credible path to unsubsidized competitiveness; and finite in duration and eventually phased out in a predictable fashion.
- Account for regional variations in renewable energy resource availability when developing legislation and regulation.
- With respect to the renewable fuel standard, policymakers should consider the limitations of the current vehicle fleet, fuel distribution infrastructure and actual production capacity, and adopt targeted modifications as needed.
Renewable Power is a Vital Domestic Resource
“Overdependence on any one fuel will put our future economy at risk. America must keep clean coal, natural gas and nuclear fuel in the mix for electricity generation while supporting expanded renewable development and energy efficiency.”
￼￼— Nicholas K. Akins, President & CEO, American ￼Electric Power