FuelCell Energy applauds Congressman Larson's and Senator Blumenthal's proposed legislation

FuelCell Energy has urged support for The Fuel Cell and Hydrogen Infrastructure for America Act (the Act), which U.S. Congressman John B. Larson and U.S. Senator Richard Blumenthal are introducing. The legislation is designed to accelerate the adoption of stationary fuel-cell power generation and the hydrogen energy infrastructure while supporting domestic manufacturing and helping the U.S. fuel-cell industry to grow. U.S. Congressman Chris Murphy accompanied Congressman Larson and Senator Blumenthal during a visit to the FuelCell Energy's Torrington, Connecticut production facility, where they announced their intention to introduce this legislation. The Act creates a tiered ITC (investment tax credit) to reward highly efficient stationary fuel-cell power plants utilizing a CHP (combined heat and power) configuration. The ITC currently provides a tax credit of 30% for stationary fuel cell power plants with at least 30% efficiency. The Act increases the tax credit to 40% for fuel-cell power plants achieving at least 60% efficiency and to 50% for fuel cell-power plants achieving at least 70% efficiency. Generating both clean electricity and usable heat from the same unit of fuel enhances efficiency and reduces emissions. DFC (Direct FuelCell) power plants designed and manufactured by FuelCell Energy can achieve efficiency up to 90% in CHP applications. In addition to supporting the installation of highly efficient and environmentally friendly stationary fuel-cell power plants, the Act increases the tax credit for hydrogen-refueling properties from 30% to 50% and expands eligibility to include hydrogen-refueling properties for fuel cell powered material-handling equipment. Fuel cells electrochemically convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants due to the absence of combustion. DFC power plants are fuel flexible, capable of operating on natural gas or renewable biogas. DFC plants provide continuous baseload power and can be sited where the power is used, including both on-site applications and electric-grid support. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of DFC plants facilitates their siting in urban locations. FuelCell Energy