H.R. 2972: Heat is Power Act

BILLS-113hr2972ih

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Summary:

This bill aims to give tax credits for electricity generated from excess heat, and has been introduced for the last three years. It applies to heat resources such as; exhaust heat from an industrial process, waste gas or industrial tail gas, and a pressure drop in any gas. It does not apply to resources where the primary purpose is the generation of electricity utilizing a fossil fuel. Current tax credits are available for: wind, closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, and marine and hydrokinetic renewable energy, as defined in 26 USC § 45 – Electricity produced from certain renewable resources, etc.