Bailout Credits Renewables
The financial bailout package signed into law today has some bonus provisions for renewable energy and plug-in vehicles.
Last year, last-minute wrangling led Congress to drop from its major energy bill significant tax credits for wind and solar energy, as well as for plug-in hybrid vehicles. The solar and wind credits were set to expire next year, which would have put some renewable-energy companies in a bind. What’s more, without a tax credit for plug-in hybrids, vehicles that use little to no gasoline for short trips, few people would have been able to afford them.
This year, these credits seemed on track to be approved, until the financial crisis and Treasury secretary Henry Paulson’s bailout package distracted Congress, leading some experts to worry that the renewable-energy companies and automakers would be left in the lurch.
But the credits were added to the bailout bill, which passed the House today and was quickly signed into law.
Keep Reading
Most Popular

The dark secret behind those cute AI-generated animal images
Google Brain has revealed its own image-making AI, called Imagen. But don't expect to see anything that isn't wholesome.

Inside Charm Industrial’s big bet on corn stalks for carbon removal
The startup used plant matter and bio-oil to sequester thousands of tons of carbon. The question now is how reliable, scalable, and economical this approach will prove.

The hype around DeepMind’s new AI model misses what’s actually cool about it
Some worry that the chatter about these tools is doing the whole field a disservice.

How Charm Industrial hopes to use crops to cut steel emissions
The startup believes its bio-oil, once converted into syngas, could help clean up the dirtiest industrial sector.
Stay connected

Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.