The World's #1 Renewable Energy Network for News, Information, and Companies.
Untitled Document

Proposed Tax Extenders Bill Includes TGP, Other Renewable Energy Provisions

It appears that the feverish work performed by the American Wind Energy Association (AWEA) and the Solar Energy Industries Association (SEIA) has resulted in a compromised tax credit extenders bill that includes a one-year extension of the Treasury Grant Program (TGP), which allows developers to receive a 30% investment tax credit in the form of a grant for their renewable energy projects.

The new bill was introduced in the Senate yesterday and a vote is expected on Monday.

The two associations have been calling for the extension of the TGP because it has spurred the development of more than 1000 solar energy projects across the nation and numerous wind projects as well, keeping Americans at work, say the organizations.

Rhone Resch, President of SEIA said in a statment: 

"An extension of the program will keep our U.S. industry growing and help achieve the industry's goal of installing enough new solar energy to power 2 million new homes each year by 2015. None of this would be possible without the tireless leadership of solar's champions on Capitol Hill on both sides of the aisle. In particular, Senators Cantwell, Feinstein, Ensign and LeMieux stepped up to support American jobs in the renewable energy industry and helped convince the Senate to include this provision in the final bill."

Resch urged lawmakers to pass the bill as soon as possible. "But this is not over yet. Congress must now move swiftly to pass this compromise bill and keep solar working for America," he said.

Denis Bode, CEO of AWEA also praised the measure but offered similar cautionary statements: "

“This is a great day for American workers,” Bode said. “We have a lot of work to do to ensure that this victory is upheld in the House and Senate, and signed by the President, but we saw an outpouring of support this week that was truly inspiring."

Should the measure pass, Bode is hopeful that the wind industry will surge ahead.  "Factories across the country will restart production lines, recall workers, and avoid layoffs that would have followed the loss of this key incentive for wind energy. With consistent policies like this one, wind energy can generate 20 percent of America’s electricity within 20 years, and employ half a million Americans,” she said.

Politico is reporting that the bill also includes a one-year extension of the 45-cent ethanol excise tax credit and the 54-cent ethanol import tariff and possibly the retroactive extension of the biodeisel tax credit that expired at the end of last year.  Energy efficiency measures are also reportedly in the bill.

Left out of the bill was the advanced energy manufacturers tax credit.

The full text of the revision of the revision can be found here.  (That's not an accidental repeated statement, click on the bill to see.)

 

Untitled Document

Get All the Renewable Energy World News Delivered to Your Inbox

Subscribe to Renewable Energy World or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

RELATED ARTICLES

Electricity Deregulation

Japan Electricity Deregulation: Birth of Municipally Owned Electric Utilities

Junko Movellan, Correspondent The upcoming retail electricity deregulation in Japan will create a way for Japanese municipal governments to produce...
Solar panel

REC Joins O Capital in Egypt to Tap Solar Panel Market in Middle East, Africa

Anna Hirtenstein, Bloomberg REC Solar ASA has signed a deal with O Capital, the renewable energy arm of Orascom Telecom Media and Technology Hold...
Solar PV

OneEnergy Seeks Authority to Build 6 MW Solar PV Facility in Southern Maryland

Jennifer Delony OneEnergy Renewables is seeking regulatory approval in Maryland to build a 6 MW solar PV facility in Somerset County,...
Solar water heating

California Regulators Propose Expansion of Eligibility Requirements for Solar Water Heating Program

Jennifer Delony The California Public Utilities Commission has proposed expanding the eligibility requirements for customers seeking ...

PRESS RELEASES

Canadian Solar Wins Five Solar Power Projects Totaling 185 MW in Brazil

These power projects were won under a 20-year Power Purchase Agreement (PPA) with the B...

$100 Off of 5-day Advanced PV Project Experience. Download a Topic Schedule.

Assemble, ground, energize, and commission a complete grid-tied SolarEdge system from s...

Former Australian Prime Minister Kevin Rudd talks politics of fear vs. politics of hope

Rudd, who led the Australian parliament from 2007 to 2010, told the Summit audience tha...

Intersolar AWARD „Solar Projects in India“ – Applications being accepted until September 18

The Intersolar AWARD in the category Solar Projects in India honors projects in the fie...

FEATURED BLOGS

Washington, DC Bridges the Solar Gap

The District of Columbia has enjoyed 15 years of strong economic growth. But prosperity is spread unevenly across the...

Sell Through Hypothesis

You first learned to hypothesize, or make educated guesses, in grade school science class. Now it’s time to ref...

Cronimet / THEnergy study: In solar for mines size does not always matter - Reducing CAPEX with energy efficiency and load shifting

Munich, September 2015. Mining companies are constantly gaining interest in solar solutions because frequently solar ...

Final Program Now Available for GRC Annual Meeting & GEA Geothermal Energy Expo

GRC Annual Meeting & GEA Geothermal Energy Expo - Final Program from

FINANCIAL NEWS

Renewable Energy World's network editors help deliver the most comprehensive news coverage of the renewable energy industries. Based in the U.S. and the UK, the team is comprised of editors from Pennwell Corporation's myriad of publications that ...

CURRENT MAGAZINE ISSUE

Volume 18, Issue 4
1507REW_C11

STAY CONNECTED

To register for our free
e-Newsletters, subscribe today:

SOCIAL ACTIVITY

Tweet the Editors! @jennrunyon

FEATURED PARTNERS



EVENTS

Successfully Integrating Solar: A Proactive Approach

•      What does the increasing solar penetrati...

Doing Business in Europe – in partnership with GWEC, the Global Win...

There is now 128.8 GW of installed wind energy capacity in the EU (appro...

Doing Business in South Africa – in partnership with GWEC, the Glob...

Wind Energy in South Africa has been expanding dramatically, growing fro...

COMPANY BLOGS

Sell Through Hypothesis

You first learned to hypothesize, or make educated guesses, in grade sch...

Vacancy? No Problem!

Have you ever tried to sell an efficiency product or service to a prospe...

Final Program Now Available for GRC Annual Meeting & GEA Geothermal...

GRC Annual Meeting & GEA Geothermal Energy Expo - Final Program f...

NEWSLETTERS

Renewable Energy: Subscribe Now

Solar Energy: Subscribe Now

Wind Energy: Subscribe Now

Geothermal Energy: Subscribe Now

Bioenergy: Subscribe Now  

 

FEATURED PARTNERS