Wisconsin Governor Proposes $450 M to Develop Renewable Energy

Governor Jim Doyle unveiled plans to grow bioindustry and renewable energy in Wisconsin through a $450 million public and private investment strategy — including nearly $80 million from the state — in renewable fuel sources. The Governor’s proposal, which aims to create 17,000 in-state jobs, includes financial incentives such as bonds, tax credits, loans and grants for companies to invest in and develop new technologies and renewable energy.

Governor Doyle’s plan includes the Wisconsin Energy Independence Fund, which will make $50 million in loan guarantees and low interest loans available to Wisconsin businesses looking to expand production and use of renewable fuels and energy, facilitating economic development in biopower, biofuels and bioproducts. The Wisconsin Energy Independence Tax Incentives offer credits for gas stations to invest in E-85 and biodiesel tanks and pumps — increasing the availability of E-85 in the state by an additional 400 pumps. The Wisconsin Energy Independence Grant Program proposes $20 million in grants for companies and researchers to develop new technologies to increase renewable fuels. One $5 million grant will be earmarked to bring the first cellulosic ethanol manufacturer to Wisconsin to spur production of ethanol from woody forest and timber materials and meet the state’s goal of becoming the first state in the nation to produce ethanol from cellulose. These developments all help the state progress toward the three goals of Wisconsin’s Declaration of Energy Independence: — To generate 25 percent of its electricity and 25 percent of transportation fuel from renewable fuels by 2025. — To capture 10 percent of the market share for the production of renewable energy sources by 2030, bringing tens of thousands of new jobs to Wisconsin citizens. — To become a national leader in groundbreaking research that will make alternative energies more affordable and available to all.
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