Energy Tax Package Sent To U.S. Senate
The U.S. Senate Finance Committee approved an updated package of energy tax incentives, which contains a five- year extension of the tax credit for the production of electricity from wind, geothermal, biomass and other renewable energy resources, Renewable Energy Access reports.
It also extends the investment tax credit for business investments in solar, fuel cells and microturbine technology for an additional eight years. For homeowners, it extends tax credits for six years, through 2014, that help defray the cost of shifting to solar electric, solar water heating and fuel cell technologies. And it creates a new tax credit for residents using wind technology.
Finance Committee Chairman Max Baucus (D-Mont.) is expected to offer the tax package this week as an amendment to the energy bill currently on the Senate floor.
Stay Up-to-Date On Environmental Management, Energy & Sustainability News with EL's Free Daily Newsletter
Energy Manager News
- Bridgewater, MA, Gets $231,000 Efficiency Grant
- Biomass Group Studies Role in Clean Power Plan
- Rockleigh Borough Installing LEDs, Low Energy AC
- PHG to Build Big Gasification Plant for Sevier Solid Waste
- Energy Profile of Commercial Buildings Changing
- Smart Meter Market Surging
- Modular Data Centers Cut Construction Costs
- Failure to Build Energy Infrastructure Could Cost New England $5.4B