Fuel cell maker Plug Power has applauded the bi-partisan Fuel Cell Tax Extenders Act of 2015 introduced by Representatives John Larson, Paul Tonko, and Chris Gibson. Plug Power CEO Andy Marsh said in a statement that the existing tax credits have successfully sparked interest and demand for hydrogen and fuel cell solutions. Passing the new bill will help maintain that momentum.
The current tax incentives set to expire soon
The bi-partisan bill will extend federal incentives for commercial, residential, and vehicular fuel cell use. The legislation will also extend credits for hydrogen infrastructure, providing certainty for fuel cell manufacturers. The current tax incentives for hydrogen infrastructure and fuel cell vehicles will expire at the end of 2015. The fuel cell investment tax credit for stationary fuel cells and material handling is also set to end on Dec.31, 2016.