$819 Billion Stimulus Bill Gives Renewables a Boost

It's good news for renewable energy, but the Senate still needs to weigh in.

Kevin Bullis 01/29/2009

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The $819 billion stimulus package passed by the U.S. House of Representatives on Wednesday contains much to make renewable-energy supporters happy. But things could change in the coming days as work continues in the Senate on a similar bill.

One component of the House bill could be particularly important for solar-power companies. Earlier legislation provided tax credits to help these companies, but since they aren't making much money, the tax credits weren't doing a lot of good. Greentech Media reports that the bill will change these credits to direct payments:

Along with a host of plums for renewable energy--$8 billion in loans for renewable energy power generation and transmission projects and $2 billion for energy efficiency and renewable energy research--the House version of the stimulus bill contained a provision to convert investment tax credits that solar power developers rely on into direct payments to investors for the next two years.

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Guest (gzaczek)

1108 Days Ago
01/30/2009

Like a sporting match

The Republicans may be down but they are not out. Working more on emotion than on factual strength the party of the elephant is slowly building the idea that public works projects in america are a waste of tax dollars. But with almost the same trumpet of their horns they also say that tax cuts, even deeper are the solution. Too bad they don't remember what got us here in the first place. Kevin keep up the constant drumb beat.

Robb_Henshaw

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1105 Days Ago
02/02/2009

Regardless, energy monitoring will be key

Regardless of how the stimulus money is doled out (credits or direct payments), it is clear that in this landscape the use of open energy monitoring systems is going to be key for the future of the renewable energy market. These systems provide the ability to monitor and report on many different, disparate renewable energy sources, which helps ensure both maximum output and cost efficiency. I work with on of the companies leading this market -- Fat Spaniel (www.fatspaniel.com) -- and our viewpoint is that in this economic climate, it is no longer enough to merely be "green". You must pair eco responsibility with fiscal responsibility to make the best use and achieve the greatest return on any stimulus investment.