Senator Ron Wyden Introduces Clean Energy Tax Incentives

Tuesday, September 22, 2015

Nada Sewidan, GoLocalPDX Contributor

Senator Ron Wyden recently issued a new proposal that incorporates clean energy incentives and new technologies in order to reduce carbon pollution within the next decade.

Wyden revealed new tax incentives at a recent conference that would reform the tax code in an effort to reach the goal of cutting carbon pollution down to what it once was prior to 2005. The new tax incentive will also help create millions of jobs centered in the clean energy sector.

“This bill is built around the proposition that the law ought to reward clean energy with incentives that spark innovation in the private economy,” Wyden said. “Our proposal makes it possible to get more clean, renewable energy for less money.”

Part of Wyden’s tax incentives include using technology-neutral tax credits for the production of clean electricity and fuel. Additionally, energy efficient private residence will receive performance-based tax credits, while energy efficient commercial buildings will receive a tax deduction.

Essentially, the more energy saved, the larger the tax incentive.