Max Baucus: “The Energy Tax Incentives Act provides an incentive for new business installations of qualified fuel cells. For those in…”

“The Energy Tax Incentives Act provides an incentive for new business installations of qualified fuel cells. For those in the future who might be interested in ascertaining the intent of the authors of this provision, the Finance Committee in drafting this language did so with the knowledge that there are various types of fuel cells that convert the chemical energy in fuels, such as hydrogen or methanol, into electrical energy by means of electrochemical reactions. Rechargeable fuel cells can convert electricity into chemical energy that can be stored, and then reconvert that chemical energy into electrical energy when it is needed. Rechargeable fuel cells can provide the capability for storing electricity during periods of low demand and releasing it at periods of high demand. This feature can help stabilize the output from renewable resources, including wind generation, electricity generated from swine and bovine waste nutrients, geothermal power, solar power, and biomass facilities. This language is intended to encourage the provision of electricity through non-polluting means, and to assist in the development of alternate, renewable resources. Our policy is to help develop these and other alternative, renewable resources.”