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Senator Hassan Cosponsors Renewable Energy Extension Act to Help Promote Use of Renewable Energy

WASHINGTON – Senator Maggie Hassan (D-NH) cosponsored the Renewable Energy Extension Act to promote the use of renewable energy, reduce carbon emissions, spur solar innovation, and invest in thousands of jobs. The Renewable Energy Extension Act would extend clean energy tax incentives and ensure continued deployment, growth, and innovation of these technologies. The legislation was introduced by Senator Catherine Cortez Masto (D-NV).

“Renewable energy is crucial to our efforts to lower carbon emissions, reduce energy costs, and create jobs, which is why I support extending clean energy tax incentives that have helped grow our renewable energy sector,” Senator Hassan said. “I will continue working to find ways to expand and support the clean energy economy, which will encourage economic growth and innovation in New Hampshire and across the country.”

The Renewable Energy Extension Act that Senator Hassan cosponsored would provide a 5-year extension of the Investment Tax Credit (ITC) and residential renewable energy tax credit for solar, delaying the incremental phase out that Congress passed in 2015. In addition to solar, the bill extends the ITC for other clean energy technologies set to phase out, such as fiber-optic solar, fuel cells, small wind, microturbines, combined heat and power, and geothermal heat pumps.

Senator Hassan is working across the aisle to promote renewable energy. Senator Hassan led a number of her colleagues in introducing bipartisan legislation to support and expand programs such as the Regional Greenhouse Gas Initiative (RGGI), a collaborative effort across Northeastern states to use market-based tools to reduce greenhouse gas emissions from the power sector. Senator Hassan also joined Senator Susan Collins (R-ME) in introducing two bipartisan bills to lower energy costs for consumers and increase energy efficiency by reinstating and strengthening tax credits for the construction of new energy efficient homes and for energy efficient home upgrades.