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Technology for Energy Security Act
2/1/2024, 8:30 AM
Summary of Bill HR 5820
Bill 118 hr 5820, also known as the Technology for Energy Security Act, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote the development and implementation of new technologies that will enhance energy security in the United States.
The Technology for Energy Security Act focuses on several key areas. First, it aims to increase research and development funding for advanced energy technologies, such as renewable energy sources, energy storage systems, and grid modernization. By investing in these technologies, the bill seeks to reduce the country's reliance on foreign energy sources and improve the overall resilience of the US energy infrastructure.
Additionally, the bill includes provisions to support the deployment of these new technologies, such as providing grants and incentives for businesses and individuals to adopt clean energy solutions. It also encourages collaboration between government agencies, research institutions, and private sector companies to accelerate the development and commercialization of innovative energy technologies. Overall, the Technology for Energy Security Act is designed to address the growing challenges of energy security and climate change by promoting the use of clean, sustainable energy sources and modernizing the nation's energy infrastructure. If passed, this legislation has the potential to drive significant advancements in the US energy sector and contribute to a more secure and sustainable energy future.
The Technology for Energy Security Act focuses on several key areas. First, it aims to increase research and development funding for advanced energy technologies, such as renewable energy sources, energy storage systems, and grid modernization. By investing in these technologies, the bill seeks to reduce the country's reliance on foreign energy sources and improve the overall resilience of the US energy infrastructure.
Additionally, the bill includes provisions to support the deployment of these new technologies, such as providing grants and incentives for businesses and individuals to adopt clean energy solutions. It also encourages collaboration between government agencies, research institutions, and private sector companies to accelerate the development and commercialization of innovative energy technologies. Overall, the Technology for Energy Security Act is designed to address the growing challenges of energy security and climate change by promoting the use of clean, sustainable energy sources and modernizing the nation's energy infrastructure. If passed, this legislation has the potential to drive significant advancements in the US energy sector and contribute to a more secure and sustainable energy future.
Congressional Summary of HR 5820
Technology for Energy Security Act of 2023
This bill extends the energy investment tax credit for qualified fuel cell property for eight years.
Under current law, an energy investment tax credit of up to 30% of the cost of qualified fuel cell property is available provided construction of the qualified fuel cell property begins on or before December 31, 2024. This bill extends the energy investment tax credit to include qualified fuel cell property where construction begins on or before December 31, 3032.
Read the Full Bill
Current Status of Bill HR 5820
Bill HR 5820 is currently in the status of Bill Introduced since September 28, 2023. Bill HR 5820 was introduced during Congress 118 and was introduced to the House on September 28, 2023. Bill HR 5820's most recent activity was Referred to the House Committee on Ways and Means. as of September 28, 2023
Bipartisan Support of Bill HR 5820
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
17Democrat Cosponsors
7Republican Cosponsors
10Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5820
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 5820
Technology for Energy Security Act
Technology for Energy Security Act
To amend the Internal Revenue Code of 1986 to extend the energy credit for qualified fuel cell property.
Comments
Sponsors and Cosponsors of HR 5820
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