Utah business leaders are urging Congress to uphold a gradual phase-down of clean-energy tax credits — a critical move to protect billions in energy investments and meet the state’s surging power needs.
Transcript: For many decades Utah businesses have utilized existing federal tax credits to invest in energy infrastructure, boosting jobs, and strengthening communities across the state.
In June, business leaders from across Utah signed an open letter to Congress, calling for policies that support energy abundance, security, and reliability — the foundations of long-term prosperity.
That message was clear: a stable, all-of-the-above energy policy — including renewables, carbon capture for traditional sources, and nuclear — is critical to keeping Utah competitive. That includes maintaining clean-energy tax credits long enough for companies to plan, invest, and deliver results.
The recent reconciliation bill — the One Big Beautiful Bill — phases out those tax credits gradually, and provides businesses with the certainty they need. That “glide path” protects billions in private investment — projects already underway throughout the state.
Some in the Congress are still pushing for a faster rollback or even an immediate end to the credits. But this is the wrong moment for instability.
Governor Cox’s Operation Gigawatt aims to double Utah’s power generation in just 10 years. Why? Because energy demand is surging — driven by AI power needs, advanced manufacturing, and a rapidly growing population.
Utah’s population is projected to grow from 3.4 million in 2023 to over 5.5 million by 2060 — a 66% increase. That’s keeps Utah on the trajectory as one of the fastest growth states in the nation.
With the One Big Beautiful Bill now law, we need a responsible transition plan that protects current investments, supports future growth, and gives businesses the certainty to deliver.
Congress should hold the line on the phase-down of clean-energy tax credits. Businesses need time, clarity, and consistency to build the energy systems that will power Utah’s next chapter. Let’s keep our momentum — and our commitment to a reliable, abundant, and affordable energy future.
Let’s not pull the plug on our progress.
