Energy

Big Business Asks Congress For Massive Handouts ‘Accelerating’ Clean Energy Transition

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Thomas Catenacci Energy & Environment Reporter
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A group of 48 corporations wrote a letter to Congress on Tuesday, urging lawmakers to “swiftly pass” an economic package filled with handouts for the renewable energy industry.

The companies — including Adobe, Airbnb, HP, Logitech, Lyft, Redfin, Salesforce and Unilever — said Congress must build upon the bipartisan infrastructure law passed in late 2021 and approve greater investments in clean energy infrastructure, in the letter organized by sustainable finance group Ceres. Congress should enact more tax credits for utility-scale clean energy projects, incentivize consumers to transition to zero-emissions vehicles and invest in green tech manufacturing, the companies said.

“Accelerating the transition to affordable clean energy will strengthen America’s global competitiveness as businesses become less dependent on volatile, traditional energy markets, freeing up money to invest into innovation, manufacturing, and employment,” the businesses wrote Tuesday.

“As we look to the future, clean energy will be the backbone of America’s economic infrastructure and the key to the global competitiveness of American businesses,” the firms added. “The time to invest in and build that economic infrastructure is now. America cannot afford to wait as other countries gain a competitive edge.” (RELATED: Corporate America Wants To Hit Consumers With A Massive Energy Tax)

An aerial view of a Solar Farm near Las Vegas, Nevada. (Daniel Slim/AFP via Getty Images)

An aerial view of a Solar Farm near Las Vegas, Nevada. (Daniel Slim/AFP via Getty Images)

The bipartisan infrastructure bill allocated a massive $62 billion to the Department of Energy for clean energy investments, according to the Chamber of Commerce. The funding included $2 billion for bolstering the electric vehicle supply chain, $5 billion to develop a national electric vehicle charging system and $8 billion for clean hydrogen hubs.

Democrats have pushed for an additional $100 billion in renewable energy subsidies to be included in President Joe Biden’s Build Back Better Act, E&E News reported.

The letter Tuesday represented the latest push from corporations to convince Congress to back sweeping clean energy handouts in future legislation, Ceres said. In December, 400 companies, several business groups and investors penned a letter of their own, 27 companies including Ford Motor and General Electric wrote a letter in February and many others have individually called upon Congress in recent weeks to pass more clean energy investments.

“At eBay, we are committed to reducing our carbon footprint as we grow our business,” eBay Chief Sustainability Officer Renée Morin said in a statement Tuesday. “Strong federal policy support will allow companies across the U.S. to power their businesses on affordable, secure, domestic clean energy and build a more sustainable and competitive economy.”

Signatories of the letter each have an average annual revenue of at least $200 million, according to Ceres.

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