We applaud the effort of the federal government to accelerate decarbonization of the power grid, which is good for Americans, good for business, and good for our economy. Electric Transmission, Clean Electricity Performance, Clean Tech Innovation, Organized Markets, and Clean Energy Incentives concepts advanced in the Build Back Better Act will be crucial building blocks for a carbon-free future.
Washington, D.C. – (Sept. 17, 2021) – The Renewable Energy Buyers Alliance (REBA)—a non-partisan organization of 270 members generating $6 trillion in annual revenue, employing 14 million people, and deploying 42 GW of renewable energy—supports enactment of the clean energy provisions in the Build Back Better Act (BBB) being put forth in Congress. If enacted, the key clean energy provisions would be transformational in putting America on the path to a carbon-free power sector.
American businesses have voluntarily championed clean energy for over a decade and have become one of the primary drivers of clean energy deployment. Corporate renewable energy customers announced a record 10.6 GW of new projects in 2020, equivalent to 41% of all new carbon-free capacity installed last year. Our members are iconic brands, drivers of job creation, and huge contributors to our nation’s GDP and economic health—and they want clean energy.
Both market-based and policy-driven approaches are needed to achieve the fastest, most cost-effective, resilient, and equitable approaches to decarbonize the grid for all, while unlocking the potential of energy customers to accelerate the transition. The Build Back Better package signals the importance of a holistic approach to driving power sector decarbonization:
- investment in states to develop and expand organized markets will help to unlock market-driven approaches to decarbonization—over 80% of renewables to date has been in organized markets.
- investments in transmission and carbon-free energy technology research, development, and deployment will underpin a lower-cost, reliable transition.
- long-term, stable tax incentives for energy storage, clean hydrogen, transmission, and clean energy generation through direct pay and tax equity options makes an investment in America’s energy future.
- provisions that drive toward at least 80 percent clean electricity in the power sector are the sort of bold federal ambition the private sector has been waiting for and needs.
It is imperative that solutions advanced in this package embrace a structure where energy customers can continue to use their voluntary buying power to accelerate the pace and increase the ambition of grid decarbonization, bringing our 42GW of new renewable energy deployed since 2008 into the hundreds GW of carbon-free energy in the future.
We thank both the House Energy and Commerce Committee and the Ways and Means Committee for their efforts to advance Subtitle D and Subtitle G of the Build Back Better Act (BBB) and look forward to working with Senate Energy and Natural Resources and Senate Finance committee members as the package advances.
REBA will continue to collaborate with Congress, the Administration, and the federal agencies tasked with executing the implementation of the package to advance a carbon-free future. This is the moment for bold federal action that enhances the ability of motivated energy customers, and all electricity customers, to drive clean energy further and faster, while also supporting broader Administration goals of powering the grid with 80 percent clean energy by 2030.
For more details on provisions that advance a customer-centric, resilient zero-carbon energy system please read our factsheet: REBA Fact Sheet on Build Back Better Energy Provisions