Thursday, 29 December 2016

New Year's Brings Little To Celebrate For CT Fuel Cell Industry

Source: Hartford Courant, 28th December 2016, by Ana Radelat

Ana Radelat reported, "Congress dealt a key — and growing — Connecticut industry a blow by failing to extend a fuel cell tax break at the end of the year, an omission that could cost the state jobs. While larger wind and solar projects received extensions of key federal tax credits at the end of 2015, incentives for a number of other alternative energy sources, such as fuel cells, distributed wind, (...) will expire on New Year's Eve. (...) The fuel cell tax credit is an incentive to help minimize the cost of hydrogen and fuel cell projects. It offers an investment tax credit of 30 percent for qualified fuel cell projects. (...) Connecticut is among the top states, along with Massachusetts, New York and California, in the production of fuel cells. He said the industry employs about 3,000 people in the state and generates $600 million a year in revenue. (...) Rinebold says there are as many as 600 companies in the supply chain as well. (...)"

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