pic from penelopesloom.com
The Senate added a lot of renewable energy legislation to the $700B bailout bill because that thing had to go through. It was just passed by the house and the president signed it earlier this evening. If that’s the way things gotta get done so be it. Here’s what’s in there (it’s big, and it’s goooood):
- 30 percent investment tax credit, capped at $4,000, for installations of small wind turbines.
- A one-year extension of production tax credits for power companies that produce electricity from wind, biomass or waves and currents from oceans, rivers or irrigation canals.
- Expansions of credits for producers biofuels and the retailers who sell such fuels.
- Tax credits for refineries, factories and other businesses that use carbon-capture systems.
- Extension of tax deductions for builders of energy-efficient buildings and homes and manufacturers of energy-efficient appliances.
- The 30 percent investment tax credit for solar and fuel-cell installations through 2016 and removal of a $2,000 cap for such credits on residential systems.
- $2,500 tax credit for owners of plug-in electric cars and (and up to $15,000 for plug-in electric trucks, wow).
- Up to $800 million in bonds to help finance clean power plants
- Benefits for employers who help their employees bike to work
Last modified: July 24, 2018