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Tennessee Valley Authority Urged to Take Advantage of New Tax Credits From Clean Energy Bill 


As U.S. House passes Inflation Reduction Act, credits can assist TVA in speedy transition off dirty power

August 12, 2022

For Immediate Release: Friday, August 12, 2022

Press Contact: Stephanie Cepak, Clean Up TVA Coalition, team@cleanuptva.org

Tennessee Valley Authority Urged to Take Advantage of New Tax Credits From Clean Energy Bill

As U.S. House passes Inflation Reduction Act, credits can assist TVA in speedy transition off dirty power

Knoxville, Tennessee — Today, the U.S. House passed the Inflation Reduction Act, which includes nearly $370 billion in climate and clean energy investments. The bill specifically names the Tennessee Valley Authority as an entity that can take advantage of clean energy credits and loans. These incentives could significantly reduce the cost of deploying fossil fuel-free energy like solar, storage, and energy efficiency.

TVA recently said that this legislation would not impact their energy planning as they move forward with the second largest planned fossil gas buildout in the country. Earlier this year TVA released its plan to replace its largest coal plant — the Cumberland Fossil Plant, with 1,450 MW of gas and a 32-mile pipeline, despite widespread concern from elected officials, local power companies, and even the U.S. Environmental Protection Agency.

The Clean Up TVA coalition believes that TVA is misguided and owes the people of the Tennessee Valley a bold incorporation of the incentives to lower bills through significant investments in renewable energy, which currently makes up less than 5% of TVA’s energy mix.

“This bill is a game changer for electric utilities’ long term energy planning,” said Sudeep Ghantasala, an organizer with Sunrise Movement Nashville. “TVA is foolish to miss out on this opportunity to reconsider its energy choices to align with community demands and the President’s climate mandate. We can’t waste time on risky false solutions. TVA should lead with solar, energy efficiency, and storage. ”

“Valley communities continue to face the brunt of fossil fuel volatility,” said Amy Kelly, Tennessee Beyond Coal Campaign Representative of Sierra Club. “Skyrocketing prices and ever-intensifying storms put families at risk. More dirty energy is not the solution — it’s the fuel feeding this energy and climate injustice. TVA must press the accelerator on building a resilient, affordable, and renewable energy future.”

“TVA shouldn’t gamble with people’s futures,” said Pearl Walker, co-chair of the Memphis NAACP Environmental Justice Committee. “We have a real chance to speed up the urgently needed transition off fossil fuels. For TVA to ignore that by investing in more dirty energy, instead of renewables, is a massive betrayal to Valley communities who already experience high energy burdens.”

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The Clean Up TVA coalition is committed to transforming TVA into a green utility by shutting down coal plants, preventing new fossil gas development, and accelerating a just transition to fossil fuel-free, distributed renewable, affordable and democratic energy for all communities and workers in the Tennessee Valley.