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Waste Heat to Power Included in Bipartisan, Bicameral Master Limited Partnership Parity Bill

Apr 25, 2013

For Immediate Release Contact: Susan Brodie
April 25, 2013 susan@heatispower.org
  630.292.1304

 

Waste Heat to Power Included in Bipartisan, Bicameral Master Limited Partnership Parity Bill

Oak Brook, IL –April 25, 2013 – The Heat is Power Association is pleased to offer its full support for the Master Limited Partnership (MLP) Parity Act, reintroduced yesterday in the Senate and House.  Among the important changes made was the addition of waste heat to power (WHP) as a newly eligible renewable electricity source.  The bipartisan bill is designed to give investors in renewable energy projects access to a decades-old corporate structure with tax advantages historically available only to investors in select fossil fuel based energy projects.

By allowing more sources of domestic energy, renewable and non-renewable alike, to take advantage of the MLP financing structure, Congress is moving away from picking which technologies American’s should choose, and instead allowing the marketplace to decide.  For nearly 30 years the MLP business structure, which is taxed as a partnership but whose ownership interests are traded like corporate stock on a market, has been available to certain fossil fuel based energy sources.  By opening up MLPs to non-fossil fuel based electric generation, more private investment will flow to those technologies that show promise in the American marketplace.  And The Heat is Power Association is confident the MLP structure will help boost WHP deployment and thereby increase industrial efficiency.  One recent analysis by the Environmental Protection Agency[1] estimates that the waste heat produced by American industry could generate 10 GW emission-free electricity annually, enough to power 10 million American homes, produce $3 billion in savings for industry, and create 160,000 new American jobs.

Tony Straquadine, Chair of The Heat is Power Association and Manager of Government Affairs for Alliance Pipeline stated: “The waste heat to power industry strongly supports the efforts of Senators Coons and Moran and the other co-sponsors of the Master Limited Partnership Parity Act to ensure that projects using a broad array of energy generation technologies can avail themselves of the MLP structure.  The ability of waste heat to power projects to qualify for MLPs will make those projects easier to finance, will be attractive to a broader range of energy investors, and will produce emission-free power from an otherwise wasted resource.  We applaud your efforts to level the playing field for energy generation resources like ours that improve the competitiveness of our nation’s industrial sector and generate power with no combustion and no emissions.”

About Waste Heat to Power (WHP)

Waste heat to power (WHP) installations capture the heat generated as a by-product from industrial processes and convert that heat into electricity through a process that does not involve burning any additional fuels or emitting any additional pollution or greenhouse gases. The process to convert industrial waste heat to electricity is almost identical to the process used to convert geothermal energy to electricity; both processes use the same technologies and produce the same emission-free electricity as other renewable resources.

Waste heat to power encompasses a suite of technologies and applications that can improve industrial energy efficiency and reduce emissions anywhere heat is vented or wasted.  Cement, paper, steel and oil and gas are good examples of energy intensive industries where waste heat to power applications have been successful.

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The Heat is Power Association is the trade association of the Waste Heat to Power (WHP) industry.  The not-for-profit organization is committed to educating decision makers and the public about the characteristics of waste heat to power as a source for emission-free electricity and an economic driver for global competitiveness. The Heat is Power Association promotes the efficient, industrial use of emission-free electricity generated through WHP processes.  Our members include technology developers and manufacturers, project developers, component suppliers, industrial end users, academics, and energy and environmental advocates throughout the United States.  To learn more visit www.heatispower.org.



[1] EPA Waste Heat to Power Systems Paper: http://www.epa.gov/chp/documents/waste_heat_power.pdf