WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) today introduced legislation to spur investment in a new energy technology being developed in Athens County. The bill will benefit companies – like Sunpower Inc., located in Athens – that have developed a promising new form of energy generation called “linear generation” by allowing these companies to access an investment tax credit that will help them scale their product to market.
“The introduction of new energy technology keeps the U.S. competitive and helps reduce energy costs for consumers. That’s why we should be making it easier for companies with promising ideas to get them to market,” said Brown. “The investment tax credit would give Sunpower and other companies the opportunity to take this technology mainstream and support jobs in southeast Ohio.”
“This bill provides a level playing field for distributed power using linear generators when compared with other technologies that already receive substantial tax code incentives,” said Sunpower CEO, Jeff Hatfield. “Linear generators are innovative, clean, efficient and reliable power producers that will reduce consumer electricity costs and reduce reliance on the electrical grid. For Sunpower, this bill and Senator Brown’s support offer an opportunity to achieve our commercialization goals and create jobs not only at Sunpower but also at our suppliers, many of which are based on Ohio.”
Sunpower is one of a number of companies that have invested in the research and development (R&D) to fully develop linear generation, a form of onsite power generation that can produce fuel from any sources including: fossil fuels, natural gas, biomass, solar or wind energy. The technology is ready to enter the market, but is not eligible for the tax incentives that could help it reach its full potential.
Linear generation is not eligible for an investment tax credit because it is not specifically named in the tax code. This puts companies at a competitive disadvantage and makes it tough to compete with similarly priced options. It is a neutral platform that can produce energy from any source, rather than a renewable or traditional fossil fuel source, and a tax credit would help it gain foothold in the market.
Brown is a member of the Senate Finance Committee and has worked to boost tax incentives and credits for Ohio businesses so they can boost R&D and get new products and ideas to market.
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