Koch brothers, others seek to quash tax break that aids CT fuel cell industry

Koch brothers, others seek to quash tax break that aids CT fuel cell industry

(CT Mirror, 11/3/2016) – Connecticut’s fuel cell industry, one of the most robust in the nation,  is up against a powerful coalition that includes the Koch brothers and other conservative interest groups who want to end an important tax break for the industry.

The showdown over extending the federal fuel cell tax incentive will occur after the elections, in a lame-duck session of Congress. It will also affect similar provisions for geothermal heat pumps.

Joel Rinebold, director of energy at the Connecticut Center for Advanced Technology, called Connecticut “the Silicon Valley of fuel cells.”

He said the industry employs 3,000 people and generates $600 million a year in revenues.

“I can appreciate that there’s an interest in not spending money [on tax incentives,] but we look at these tax credits as an investment,” he said. “Without some assistance, these companies may very well scatter.”

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