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WASHINGTON – Today Reps. Ron Estes (R-Kansas) and Mike Thompson (D-California) reintroduced the Financing Our Energy Future Act. This bipartisan bill gives renewable energy projects access to master limited partnerships (MLP), a tax structure currently only available to oil, gas and coal projects.
 
"The Financing Our Energy Future Act updates our tax code to allow renewable energy projects to have equal access to capital, further advancing our diverse energy production in the United States that includes renewable energy projects in addition to our robust oil, gas and coal projects," said Rep. Estes. "As a supporter of an all-of-the-above energy strategy for our country, I'm pleased to introduce this bill that extends vital resources to renewable energy initiatives, creating jobs and restoring our nation's dominance in energy production and innovation. Our tax code shouldn't be picking winners and losers – especially in American energy production – and this bill provides parity for all U.S. energy projects that will bolster production and encourage market-based competitiveness."
 
"Expanding master limited partnerships to include renewable energy production would help boost our transition to clean energy," said Rep. Thompson. "The Financing Our Energy Future Act is a commonsense step to provide renewable energy projects with equal access to capital without impacting already existing MLPs. Proud to introduce this legislation with Rep. Estes to invest in American energy."
 
A master limited partnership is a business structure taxed as a partnership but whose ownership interests are traded like corporate stock on a market. By statute, MLPs have only been available to investors in energy portfolios for oil, natural gas, coal extraction and pipeline projects. This bill levels the playing field to make renewable energy sources more competitive for private capital investments.
 
Newly eligible energy resources under this legislation would include solar, wind, marine and hydrokinetic energy, fuel cells, energy storage, combined heat and power, biomass, waste heat to power, renewable fuels, biorefineries, energy-efficient buildings and carbon capture, utilization and storage (CCUS).

Click here to download the legislation.