A taste of Green in Stimulus package?

Word is that the Senate Finance Committee has $5 billion in Green-related elements in its draft $150 billion stimulus package. Not tremendous, but at least a taste of sanity. 

 

Among the $5 billion:

1. Production Tax Credit (Section 45). Extends placed-in-service deadline for qualifying electric generating facilities (wind, biomass, geothermal, etc.) for one year. Estimated cost is $3b/10.

2. Solar, fuel cell, microturbine credits (Sections 48 and 25D). Extends Section 48 (30% investment credit for solar and fuel cell property, 10% credit for microturbines) and Section 25D residential solar credit for one year. Cost is approx. $130m/10.

3. Clean Renewable Energy Bonds (CREBs). Provides $400m in new CREBs issuance, at estimated cost of $206m/10.

4. Appliances Manufacturer Credit. Extends manufacturer credit for high-efficiency appliances for two years through 2009, at cost of approximately $323m/10.

5. Energy-Efficient Existing Homes. Extends 10% investment tax credit for energyefficient home retrofits (windows, heating and cooling equipment, etc.) through 2009, at estimated cost of $1.5b/10.

6. Energy-efficient Commercial Buildings: Extends deduction for energy-efficient commercial buildings for one year, at estimated cost of $153m/10.

7. Energy-efficient New Homes. Extends credit for energy-efficient new homes for one year, at estimated cost of $61m/10.

And, for a taste of non-Green … 

8. Percentage depletion for marginal wells. Extends suspension on the taxable income limit for purposes of depreciating a marginal oil or gas well through 2009, at estimated cost of $247m/10.

All of these are reasonable measures, worth enacting, even if the time periods (one year extensions) are far less than they should be.

One response to “A taste of Green in Stimulus package?

  1. I am really excited to see more energy efficient homes, with smart grid technology we can easily start a great eco-friendly renewable energy source for everyone.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s