Edwards Works to Lower Post-Disaster Energy Costs

WASHINGTON, D.C. — Congressman Chuck Edwards (NC-11) joined Congressman Greg Steube (FL-17) and Congressman Vern Buchanan (FL-16) to introduce the Disaster Zone Affordability Investment Act to stimulate local communities and lower electricity costs for communities impacted by natural disasters. 

This legislation will allow eligible energy companies like Duke Energy to invest in disaster-affected areas by transferring unused clean-energy tax credits from prior years to responsibly finance storm recovery and grid rebuilding in local communities recovering from a natural disaster. 

In the aftermath of Hurricane Helene, more than 3.4 million customers lost power, underscoring the need for faster investment in reliable energy infrastructure. By allowing utilities to monetize existing carryforward tax credits, this bill will reduce financing costs for storm restoration, enable faster reinvestment in damaged infrastructure, and lessen customers' financing costs to restore power sooner and lower electricity bills.

“After a disaster, communities need affordable, reliable power to recover and rebuild,” said Congressman Edwards. “This bill puts existing resources to work, encourages private investment, and helps lower energy costs for families and businesses when they need relief most.”

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