Before ripping James Galante's best friend David Cappiello to shreds at their first debate in Waterbury, Congressman Chris Murphy was joined by Majority Leader Steny Hoyer (MD-5) in Danbury today and talked about how congress has also made it easier for business to invest in renewable energy sources. The press conference was held at a site owned by Stu Longman, a local business owner who is currently installing the largest solar panel installation in New England with the help of a grant which was pushed by Congressman Murphy.
Here's a portion of Murphy press release:
"When I am in Danbury and the rest of the Fifth District, I hear about how high energy costs are hurting businesses, large and small. We've got to make a commitment and investment in new ways of powering our businesses and homes in order to realize real energy savings. I am proud of the changes we have made to our national renewable energy policy in my first term in office because it sets a national commitment to finding new, and less expensive, ways to do business," said Murphy.
To boost jobs and set us on a path to energy independence, Murphy pushed H.R. 6899, the Comprehensive American Energy Security and Consumer Protection Act, to set a Renewable Electricity Standard (RES) that mandates that 15% of electricity must be met with renewable sources by 2020. More than half of U.S. states have already adopted an RES, but in order to truly put the nation more energy independent, Congress needed to step in to create a national standard.
Congress has also made it easier for business to invest in renewable energy sources by extending the Energy-Efficient Buildings Deduction for 5 years, allowing taxpayers to deduct up to $1.80 per sq. ft. in commercial buildings for improvements that achieve 50% or greater in energy savings. And Congress extended the Investment Tax Credit (ITC) through 2016, with a 30% income tax credit for solar and fuel cells and 10% for wind microturbines and geothermal. This credit makes it more attractive to make financial investments in industrial renewable energy projects.
Mr. Longman used a Connecticut Clean Energy Fund grant and a federal tax credit to make the project an affordable business investment -- without the assistance, the project would not have been possible.
"I want to thank Congressman Murphy and Majority Leader Hoyer for coming here today to see how their work in Washington has allowed me to cut energy costs through investment in solar energy. Congressman Murphy has been pushing since he got to Washington to help business owners like me choose to invest in new technologies to power our businesses. Without his help, the changes I am making to my business wouldn't have been possible," said Longman.
Here's video footage of today's presser.