Washington, D.C. – Congresswoman Elise Stefanik has cosponsored the Biomass Thermal Utilization Act to provide tax credits for biomass heating appliances. This legislation adds high efficiency biomass thermal technologies to the list of renewable energy technologies that benefit from investment tax credits under section 25D and Section 48 of the tax code. The BTU Act only qualifies the most efficient and advanced technologies for the credit. Earlier this year, Congresswoman Stefanik introduced the Renewable Electricity Tax Credit Equalization Act, bipartisan legislation to extend tax credits for investments in qualified renewable energy production, including closed-loop biomass, open-loop biomass, geothermal, municipal solid waste, qualified hydropower, and marine and hydrokinetic.
“I have a clear record of promoting renewable energy technology by incentivizing its usage by providing companies with tax credits,” said Congresswoman Stefanik. “This legislation further extends the list of technologies that qualify for these tax credits, which will result in net reduction of greenhouse gas and sulfur emissions which can contribute to acid rain. The North Country faces a variety of environmental issues, including acid rain, and I’m proud to cosponsor this effort to preserve our district’s beauty.”
A thermal biomass system is a stove, furnace or boiler that runs on biomass fuels such as wood pellets and chips, solid wood or agricultural residues. The system produces thermal energy for heating residential, commercial and industrial buildings, as well as process heat for industrial applications.
The Adirondack Park Local Government Review Board, New York Biomass Energy Alliance, North Country Resource Conservation and Development Council, Northeast Biomass Thermal Working Group, Northern Forest Center, Alliance for Green Heat, American Boiler Manufacturers Association, and American Forest Foundation are all supportive of this legislation.