KNOXVILLE, Tenn. – The Tennessee Advanced Energy Business Council (TAEBC) sent letters to U.S. Senators Marsha Blackburn and Bill Hagerty urging revisions to the House-passed reconciliation bill (H.R.1, One Big Beautiful Bill Act), which repeals or restricts key energy tax credits.
TAEBC commended Congress for maintaining nuclear tax credits, noting that, for the 229 nuclear-related companies investing in Tennessee, 154 of which are located in the Oak Ridge-Knoxville area, the 45U tax credit and other tax incentives are a crucial lifeline for capital allocation when planning long-term investments.
TAEBC warned that repealing or weakening incentives like the technology-neutral production (45Y) and investment (48E) tax credits would jeopardize more than $5.5 billion in announced investments and over 5,400 jobs in Tennessee. The organization emphasized that such actions would stall growth in the state’s $56 billion advanced energy sector, which currently employs more than 420,000 Tennesseans.
“While we eagerly look forward to advanced nuclear technologies coming online, we need additional advanced energy resources now to meet unprecedented power demand in the TVA region,” said Cortney Piper, Executive Director of TAEBC. “Rolling back these credits would derail our state and nation’s ability to meet that demand, weaken grid security, and raise energy costs across the state.”
The letter calls on the Senate to:
- Replace unworkable tax credit eligibility deadlines with practical “commence construction” thresholds;
- Extend credit phaseout timelines to 2028 to protect ongoing investments;
- Clarify Foreign Entity of Concern (FEOC) provisions to preserve U.S. competitiveness; and
- Reinstate tax credit transferability to ensure financing for smaller developers.
TAEBC reaffirmed its commitment to collaborating with federal lawmakers to ensure policies that promote energy growth, job creation, and national security remain intact.
Media Contact:
Elena Hale | [email protected] | 865-329-0553
About Tennessee Advanced Energy Business Council
The Tennessee Advanced Energy Business Council (TAEBC) champions advanced energy as an economic development and job creation strategy. Advanced energy is technology neutral and includes electricity and transportation. Anything that makes energy cleaner, safer, more secure or more efficient is in the tent. No other entity in the state concentrates specifically on this robust sector. We educate public officials and business leaders about Tennessee’s advanced energy economy, establish strategic partnerships to connect assets with opportunities, and inform policy that expands and strengthens the industry. TAEBC hosts the Energizing Tennessee podcast, which explores the latest news and insights about the advanced energy sector. For more information, visit https://tnadvancedenergy.com.