Bipartisan Heat is Power Act is Re-introduced in the U.S. House of Representatives
Press Release | Sep 09, 2011
Washington D.C., August 29, 2011- Representative Paul Tonko (D-NY) led an effort of bipartisan Representatives including Ron Paul (R-TX), Jay Inslee (D-WA) and Shelly Berkley (D-NV) in re-introducing the Heat is Power Act, H.R. 2812.
The Heat is Power Act will provide an investment tax credit or production tax credit for new innovative technology that produces clean, emission free electricity from waste heat generated by industrial processes which will help stimulate growth in the waste heat-to-power market and create new jobs.
The Heat is Power Act would modify sections 45 and 48 of the U.S. tax code to include waste heat and provide a 30% investment tax credit for the installation of the technology in industrial settings. American companies have created technology that can harness waste heat from smokestacks and other industrial processes such as oil and gas production and turn that energy into emission free electricity. The tax credit will put this technology on the same footing as other renewables such as wind and solar power, and help develop a new, American clean energy industry that will lead to job growth.
“Due to the U.S. tax code providing incentives to all other sources of emission free electricity, without equal government recognition, our market is hindered. We are thankful for Congressmen Tonko, Paul, Inslee and Berkley’s efforts and look forward to seeing the development of this market, creation of new American jobs, and increased clean energy for our country,” said Kelsey Walker, Executive Director of “Heat is Power,” the waste heat-to-power industry trade association.
The development of a domestic waste heat market will also position the U.S. to capture the global market in clean energy exports and create manufacturing jobs here in America for decades to come.
About TAS Energy, Inc.
TAS Energy, Inc. is a technology company providing clean economic power solutions by focusing on the energy efficiency and renewable energy markets. TAS designs and manufactures modular energy conversion and cooling systems for the power generation industry; district, commercial and industrial process cooling; mission critical; and the renewable energy sector. TAS specializes in high efficiency standard product designs optimized for high life cycle return performance. Its product capabilities include geothermal and industrial waste heat power generation solutions, gas fired generation augmentation, chilled water systems, modular data centers and clean heat and power on-site energy systems. More can be learned at www.tas.com.