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Gotham Energy 360 Enlisted to Support
Congressional Legislation Supporting CHP
About Gotham 360
Pioneering Combined Heat & Power and
Renewable Energy
Given our leadership in the Combined Heat & Power arena
and our alliance with the EPA’s Combined Heat & Power
Partnership, Gotham 360 was enlisted by the Pew
Charitable Trust, to support key Federal Legislation that
would make the following changes to Section 48 of the tax
code (the Investment Tax Credit) to reduce the capital costs
of combined heat and power and waste heat to power
projects, and provide parity compared with other clean and
efficient energy technologies:
Increase the credit from 10 percent to 30 percent. Some
energy technologies, such as solar, currently receive a
30 percent ITC, but combined heat and power is only
eligible for 10 percent. Raising the level of the credit
would establish parity and allow technologies to better
compete with one another.
Apply the credit towards a project’s first 25 megawatts,
rather than the first 15 megawatts, and remove the cap
limiting the credit to projects under 50 megawatts. The
current caps have hindered the deployment of industrial
energy efficiency technologies for large energy users.
Extend the credit for two years, to the end of 2018. The
current ITC is set to expire in December 2016.
Add WHP as a qualifying technology that is able to
access the ITC.
The bill is expected to be introduced by Senator Collins and
Representative Reed and is nearly identical to the one from
the 113th Congress (H.R. 4916). It adds “nuclear energy” to
an existing exception in the waste heat to power
section. This clarifies that the credit is not intended for
waste heat to power projects that seek to recover heat from
a process whose primary purpose is the generation of
electricity utilizing nuclear energy.
Gotham 360 specializes in the intersection of
environmental challenges and economic
issues. We work to access capital markets
through partnerships with key investment
banks and private lenders. These partners
can bring opportunities for clean technology
investment to our clients to meet today's
environmental challenges. While our firm has
helped arrange financing for energy projects
in excess of $50 million in sectors as diverse
as solar, wind, geothermal, & energyefficiency, our core area of expertise lies in
the development and deployment of
Combined Heat and Power solutions to our
institutional clients. Gotham 360 has
conducted many comprehensive CHP
feasibility studies for hospitals, universities,
hotels, and more. To learn more please visit
About Pew Charitable
The Pew Charitable Trusts, an independent
nonprofit, is the sole beneficiary of 7 individual
charitable funds established from 1948-1979
by the family of Sun Oil Company founder
Joseph Newton Pew. Today it is a global nongovernmental organization with 3 broad goals:
Improve public policy by conducting rigorous
analysis, linking diverse interests to pursue
common cause and insisting on tangible
Inform the public by providing useful data that
illuminate the issues and trends shaping our
Invigorate civic life by encouraging strong
communities and democratic participation.
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