Growing Renewable Energy and Efficiency Now (GREEN) Act discussion draft includes expanded renewable energy tax incentives
December 2019 update
House Ways and Means Committee Democrats on Nov. 19, 2019, released a discussion draft of the Growing Renewable Energy and Efficiency Now (GREEN) Act, which seeks to expand renewable energy use and reduce greenhouse gas emissions.
The proposal, which is sponsored by Ways and Means Subcommittee on Select Revenue Measures Chairman Mike Thompson (D-CA), is more expansive than the bill (H.R. 3301) approved by the Ways and Means Committee in June of 2019 to extend certain expired or expiring tax provisions through Dec. 31, 2020. The energy tax incentives included in the discussion draft generally would be available through 2024.
GREEN Act overview
The Growing Renewable Energy and Efficiency Now Act is intended to do the following:
- Promote the use of green energy technologies and incentivize the reduction of greenhouse gas emissions through new and existing tax benefits
- Increase energy efficiency and green energy use in both residential and commercial buildings
- Support the use of zero-emission transportation and supporting infrastructure
- Invest in a green workforce through energy credits for manufacturers
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