Tax Policy for Renewable Thermal Solutions
Roundtable discussion – June 8, 2022
The Renewable Thermal Collaborative (RTC) held a roundtable discussion on a tax policy proposal aimed at accelerating deployment of renewable fuels and technologies to meet the thermal energy needs of the manufacturing and buildings sectors. The proposal, which was finalized in fall of 2021, would make a range of renewable thermal technologies eligible for a 30% investment tax credit (ITC), similar to tax credits that are already available for renewable electricity technologies. The roundtable discussion included RTC members and sponsors as well as a select group of external organizations ranging from tax experts, to trade associations for specific fuels and technologies, to think tanks and policy advocacy organizations that are engaged on issues similar issues to RTC’s focus. As the RTC’s tax policy proposal was developed as a high-level framework, the roundtable aimed to gather input to further sharpen and refine the proposal, gather views on the evidence base and groundwork needed to advocate for the tax policy proposal, and to build a shared foundation among key stakeholders on the prospects and design of tax policy to advance renewable thermal technologies and fuels.