In a letter to Senate leaders, the American Clean Energy Association said that this will greatly weaken the benefits of other financial incentives in legislation aimed at accelerating the construction of green energy. Clean energy companies, including AEP. NextEra Energy Company (NEP), USA. US) and Orsted AS said that the minimum tax rate will threaten Biden's goal of achieving a carbon-free power grid by 2035.
The American lobbying group Edison Electric Research Institute raised similar concerns and demanded that this tax clause be deleted from the bill. The organization said: "The minimum book tax on power companies will hinder the deployment of clean energy, cause billions of dollars in investment losses, lead to the loss of thousands of jobs, and increase the cost for consumers in the transformation of clean energy."
In addition, the social expenditure bill proposes to cancel accelerated depreciation, and clean energy developers have used accelerated depreciation to provide higher tax relief for projects in a relatively short period of time, thus helping to reduce costs. According to the data of American Clean Energy Association, the cancellation of accelerated depreciation will increase the cost of renewable energy projects by 15% to 20%, and lead to the loss of clean energy deployment in the next 10 year of 65438+300 million watts.