Statement from American Council on Renewable Energy (ACORE) President and CEO Ray Long on Treasury’s Safe Harbor Guidance:

“The American Council on Renewable Energy (ACORE) is deeply concerned that today’s Treasury guidance on the long-standing ‘beginning of construction’ safe harbor significantly undermines its proven effectiveness, is inconsistent with the law, and creates unnecessary uncertainty for renewable energy development in the United States.

“For over a decade, the safe harbor provisions have served as clear, accountable rules of the road – helping to reduce compliance burdens, foster private investment, and ensure taxpayer protections. These guardrails have been integral to delivering affordable, reliable American clean energy while maintaining transparency and adherence to the rule of law. This was recognized in the One Big Beautiful Act, which codified the safe harbor rules, now changed by this action. 

“We need to build more power generation now, and that includes renewable energy. The U.S. will need roughly 118 gigawatts (the equivalent of 12 New York Cities) of new power generation in the next four years to prevent price spikes and potential shortages. Only a limited set of technologies – solar, wind, batteries, and some natural gas – can be built at that scale in that timeframe.”

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ABOUT ACORE

For over 20 years, the American Council on Renewable Energy (ACORE) has been the nation’s leading voice on the issues most essential to clean energy expansion. ACORE unites finance, policy, and technology to accelerate the transition to a clean energy economy. For more information, please visit http://www.acore.org.

Media Contacts:
Stephanie Genco
Senior Vice President, Communications
American Council on Renewable Energy
genco@acore.org

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https://acore.org/news/acore-statement-on-treasurys-safe-harbor-guidance/