The Senate version of the stimulus bill passed today. Now it’s on to conference where legislators will try to work out differences between it and the House version of the bill.
One of the most significant differences between the bills, with regard to energy, has to do with provisions related to renewable energy tax credits. Renewable energy companies and those companies that finance them haven’t been able to take advantage of tax credits lately, since they haven’t been making enough money to have to pay any taxes. Renewable energy companies been suffering as a result, seeing financing dry up and projects stalled.
The House version of the bill contains a provision that would allow companies to get the money from those tax credits anyway–the money would take the form of a government grant. An early version of the Senate bill included a similar provision: a “carry-back” provision that allowed companies to take credits against taxes owed in previous years. But it was stripped from the final version.
There’s a lot at stake here. Many renewable energy projects simply won’t go forward without some sort of access to tax credits. The current tough times for the fledgling renewable energy industry could continue, but if the tax credits are made available, that could free up funding for new projects.
The Senate finance committee has a run-down of the other differences between the bills.
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.
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.