For Immediate Release:
Contact: Colden Franklin
Colden@heatispower.org
February 11, 2025
On February 5th, 83 businesses and organizations – ranging from small, family-owned businesses to national business groups and multinational corporations – sent a letter to Congress, urging leaders to preserve the waste energy recovery property (WERP) tax credit. The WERP credit provides a 30% investment tax credit for deploying waste heat to power (WHP) technologies, a valuable source of clean, baseload electricity for heavy industry.
As Congress develops a budget reconciliation package to extend provisions of the 2017 Tax Cuts and Jobs Act, lawmakers are also considering the future of various tax credits, including the WERP credit. The Heat is Power Association (HiP) is leading advocacy efforts to ensure this vital credit remains intact.
In January, HiP organized a Capitol Hill fly-in, where WHP business leaders and industry stakeholders met with legislators to highlight the many economic and environmental benefits of incentivizing WHP deployment. Last week, the signed business letter was submitted as part of HiP’s official comments to a congressional hearing record specific to tax issues in the U.S. House. HiP will continue meeting with Congress in the coming weeks and months to advocate for the preservation of the WERP credit.
To learn about HiP membership and how your company can support our advocacy efforts, please contact Colden Franklin, HiP’s Government Affairs Director, at colden@heatispower.org.
View the full letter to Congress here: 83 Businesses Urge Congress to Preserve WHP/WERP Tax Credit
The Heat is Power Association (HiP) is an international trade association representing the waste heat to power (WHP) industry. HiP educates policymakers on the untapped clean energy opportunities presented by WHP and advocates for policies that promote parity in the research, development, deployment, and tax treatment of WHP technologies with other clean energy generation resources. Learn more at www.heatispower.org
