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CLEAN ENERGY INSIDER
MARCH 5, 2024
REAMS REPORT

Dear Friends and Colleagues,

Last week, CRES submitted comments ([link removed]) to Treasury on the Section 45V hydrogen tax credits draft guidance because significant improvement is needed if the nascent industry is going to expand. CRES was one of nearly 30,000 comments submitted providing important feedback to the federal government.

Hydrogen production is poised to be a key vehicle for the United States to assert our global energy leadership, enhance American competitiveness and lower emissions—but only if the industry is allowed sufficient room to grow.

This sentiment was shared by the industry leaders at a roundtable ([link removed]) we convened last month to discuss the challenges and opportunities facing the industry and how the 45V tax credit could help spur hydrogen development across the country.

Likewise, Senate Committee on Environment and Public Works Ranking Member Shelley Moore Capito (R-W.V.) sent ([link removed].) a letter to Treasury, writing that the guidance includes overly burdensome requirements for hydrogen producers that will stifle investment in new projects necessary for developing the U.S. clean hydrogen industry.

Most telling, and perhaps most important was a letter ([link removed]) from the leaders of the seven regional hydrogen ([link removed]) hubs ([link removed]) that cast grave doubts on the Biden Administration’s draft guidance. The leaders state that the administration's guidance would threaten the investments and jobs each hub is poised to create. Treasury’s proposal, the leaders argue, is too strict about the energy sources hydrogen producers can draw from, making the hubs less economically viable.

The bottom line is the hydrogen industry needs fewer, not additional, barriers. Producers should be able to utilize all-of-the-above energy sources to generate clean hydrogen, rather than pick winners and losers.

Sincerely,
Heather Reams
CRES President

WHAT CRES IS HEARING
“Expanding nuclear energy and increasing deployment of American nuclear technology both here and abroad is essential for: Reducing emissions; providing reliable, affordable, clean energy to Americans; and building durable economic and strategic relationships around the world.” — Rep. Jeff Duncan (R-S.C.) after the House passage of the Atomic Energy Advancement Act (H.R. 6544) ([link removed]) , by a bipartisan vote of 365-36-1.
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“It is widely believed that we will need hydrogen in order to reduce emissions in sectors of the economy that use large amounts of energy. That includes steel, concrete production, transportation, electricity generation. [...] Republicans have advocated for reducing carbon emissions through innovation – quoting you, innovation, not regulation.” — Senate Committee on Energy and Natural Resources Ranking Member John Barrasso (R-Wyo.) in his remarks ([link removed]) during a hearing to examine the opportunities and challenges associated with developing geologic hydrogen in the United States.
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“The Department of Energy has also confirmed that American LNG is up to 30 percent cleaner than Russian natural gas, and if we do not fulfill the demand for LNG and let other countries like Russia control the markets, emissions will continue to rise.” — Reps. Carol Miller (R-W.V.), Henry Cuellar (D-Texas), Guy Reschenthaler (R-Pa.), Vicente Gonzalez (D-Texas), Alex Mooney (R-W.V.), Jim Costa (D-Calif.), Michael Cloud (R-Texas) and Mary Sattler Peltola (D-Alaska) in a letter ([link removed]) to House and Senate leadership requesting that the Fiscal Year 2024 Energy and Water Appropriations Act include language to prohibit funds from being used to change the standards, permitting, or approval procedures for the export of liquefied natural gas (LNG).

WHAT CRES IS SAYING

About the House Passage of Atomic Energy Advancement Act...
“The advancement of nuclear energy technology is key to ensuring Americans have access to more reliable, affordable and clean power. [...] We look forward to working with these House and Senate leaders to produce a bipartisan, bicameral piece of legislation that incentivizes investment and deployment of the next generation of nuclear energy innovation we need.” — CRES President Heather Reams in support of Rep. Jeff Duncan’s (R-S.C.) Atomic Energy Advancement Act, which passed the House by a strong bipartisan vote. Read her full statement HERE ([link removed]) .
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About Reducing Barriers to Geothermal Development...
“An all-of-the-above energy approach that reduces global emissions includes geothermal energy, and expediting its development on federal lands is important to adding more reliable, affordable, and renewable energy to our grid. Cutting unnecessary red tape that delays geothermal projects will create good-paying jobs and expand our clean energy supply, and I thank Rep. Steel for leading this charge towards the expansion of geothermal technologies.” — CRES President Heather Reams in a statement of support for Rep. Michelle Steel’s (R-Calif.) legislation. Learn more HERE ([link removed]) .

WHAT CRES IS DOING

THIS WEEK: Join CRES Forum at our upcoming event, U.S. Offshore Wind Energy: Facing Headwinds to Deployment ([link removed]) on Thursday, March 7, 2024 from 12:00 PM - 1:00 PM. We’ll hear from top companies and advocates on the front lines about challenges and opportunities to expand offshore energy production. Speakers include Rep. Jen Kiggans (R-Va.), Daniel Runyan of Invenergy, Matt Giacona of National Ocean Industries Association (NOIA), Catherine Bowes of Turn Forward, Emmanuel Martin-Lauzer of Nexans and Seth Kaplan of Ocean Winds. RSVP now HERE ([link removed]) .
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To highlight the 2024 Sustainable Energy in America Factbook ([link removed]) , CRES Forum President Heather Reams participated in a panel discussion on the Factbook’s key insights. Moderated by Tom Rowlands-Rees of BloombergNEF, Heather joined fellow panelists Teresa Christopher of Amazon, Damon Dozier of Covanta, Allison Hull of Sempra and Mark Lessans of Johnson Controls. To read more about the 2024 Factbook and event, read our blog HERE ([link removed]) .
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CRES Forum President Heather Reams joined Congressional Western Caucus Chair Rep. Dan Newhouse (R-Wash.), House Energy & Commerce Subcommittee on Environment, Manufacturing, and Critical Materials Chairman Rep. Buddy Carter (R-Ga.) and Rep. August Pfluger (R-Texas) for a Western Caucus Foundation Digital Connect discussing the emissions-reducing benefits of U.S. liquified natural gas (LNG). CRES and CRES Forum remain steadfast in making their voices heard while advocating for clean energy and climate policy. Watch the full discussion HERE ([link removed]) .
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CRES Forum President Heather Reams submitted comments urging the U.S. Department of the Treasury to revisit the proposed guidance on Section 45X, the advanced manufacturing production tax credit, which is intended to onshore clean energy manufacturing supply chains and bolster existing domestic manufacturing. Read the full comments HERE ([link removed]) .
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WE’RE HIRING!

CRES is continuing to grow, and we're bolstering our team! If clean energy stirs your passion and you're keen to join a team promoting practical, conservative energy solutions, we want to hear from you! Find out more about our opportunities below and apply at [email protected] (mailto:[email protected]) .
* Vice President of External Relations ([link removed])
* Government Relations Coordinator ([link removed])

WHAT CRES IS WRITING

Clean energy drives a competitive America ([link removed])
CRES President Heather Reams and Business Council for Sustainable Energy (BCSE) President Lisa Jacobson authored a joint op-ed published by The Hill outlining key findings from the 2024 BCSE Factbook ([link removed]) .
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U.S. Manufacturing Is Among the Cleanest in the World – Let's Prove It ([link removed])
RealClearEnergy published an op-ed ([link removed]) by CRES President Heather Reams highlighting how the Providing Reliable, Objective, Verifiable Emissions Intensity and Transparency (PROVE IT) Act will increase American competitiveness and decrease global emissions.
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Buddy Carter’s Commonsense Climate Leadership Benefits Georgia, U.S. ([link removed])
CRES President Heather Reams penned an op-ed published by Savannah Morning News highlighting Rep. Buddy Carter (R-Ga.)’s energy and climate leadership both in the United States and around the world.

WHAT CRES IS READING

Biden’s Green Factory Push Is Benefiting Republican States ([link removed]) — The Wall Street Journal

The ‘greenest’ car in America might surprise you ([link removed]) — The Washington Post

Trump vs. an emerging Republican climate strategy ([link removed].) — Politico

Heather Reams, ’95, champions clean energy on the political right ([link removed]) — University of Washington

Biden’s LNG export ban threatens US energy security ([link removed]) — Washington Examiner

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