Washington, D.C. – NHA President and CEO, Malcolm Woolf, applauded Congress for leveraging the ‘One Big, Beautiful Bill’ to revitalize the nation’s hydropower fleet. The bill was signed into law on Friday, July 4th by President Trump.
“This legislation is a life-saver for our hydropower sector, which delivers reliable, baseload electricity to 25 million American homes and businesses daily. With 40% of our existing hydropower licenses nearing expiration, federal tax credits are essential to incentivize the repowering of our current fleet and support new developments at existing dams, pumped storage, and marine energy projects.
“The final version of the ‘One Big, Beautiful Bill’ preserves the full value of the IRA tax credits for hydropower and other water power technologies that begin construction by the end of 2033. It also maintains elective pay provisions, allowing public power and cooperatives to leverage these credits, thereby enhancing grid reliability in rural and underserved areas.
“We thank Congress for ensuring that these dependable, emission-free energy sources will continue to drive American prosperity for generations to come.”
