After years of advocacy from NRECA, Congress passed legislation in 2022 that allows electric co-ops to access federal tax credits for certain energy projects, including new renewable power facilities, through an elective-pay option. The incentives can sharply reduce costs for co-ops to build, own and operate eligible generation and energy storage projects. They also level the playing field between co-ops and other utilities that have long been able to tap federal energy tax incentives.
Co-ops are now reaping the benefits of elective pay to cut costs for consumers and strengthen their systems.
In this episode, Hill Thomas, vice president of legislative affairs for NRECA, will discuss how co-ops gained access to the incentives and why they are so important. We’ll also hear from North Carolina’s Electric Cooperatives Chief Financial Officer Doug Browne on the ways that co-ops in the state are leveraging elective pay.
Listen to the episode below:
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