News
Feb 18, 2009The U.S. Stimulus Bill and Renewables
The U.S. Stimulus Bill recently announced by President Obama will be giving the renewable energy industry billions. The Stimulus Bill includes include a multi-year extension of the Production Tax Credit (through 2013 for new geothermal power projects), $8 or $9 billion for renewable energy project loan guarantees, billions of dollars in additional funding for DOE’s renewable energy and energy efficiency programs (with the House setting aside $400 million for geothermal energy research), and an additional $1.6 billion for Clean Renewable Energy Bonds. Provisions that are in disagreement include the House bill’s provision for a cash grant program in lieu of tax credits for renewable project developers and the Senate bill’s provision for a tax credit for renewable equipment manufacturers.
