Yesterday, we took a look at energy provisions of the stimulus package that a group of moderate Senators recommended to be cut as part of $100 billion in reductions to the bill. Today, with the full text of the current Senate bill available, we’ll look at those parts of the stimulus package remaining – for the time being – that could have an impact on solar.
The document in question is 776 pages – check it out here as issued by the Senate Appropriations Committee, if you would like.
First, a sampling tour of some spending initiatives – not a thorough look, but an idea of the diversity of opportunities.
- $14,398,000,000 for “‘‘Energy Efficiency and Renewable Energy’’
- $50,000,000,000 as part of the “Innovative Technology Loan Guarantee Program”
- Clarifications to prior legislation that restrict a large amount of funds to “renewable energy systems” and “electric power transmission systems,” in particular those that will be completed by Sept. 30, 2012
- $4,000,000 moved towards federal green building projects
- As much as $24,000,000 in funds from the Department of Labor moved to renewable + energy efficiency-related jobs
- $494,362,000 allotted for military-related alternative energy projects
Second, tax incentives, obviously of critical importance for solar advocates.
- The extension of certain tax credits for anywhere from one to three years, pushing their expiry dates to cluster around 2013 rather than 2010…
- The strengthening of a number of provisions to re-emphasize the role of renewables
- $1.6 billion more in renewable energy bonds
This is an early look, and it’s tempered by the very real fact that the text on this bill could change. All the same, I think there’s a great deal to be happy about, particularly in the legislative wording and terminology on display in the second half of the bill. If you happen to notice a provision that you’d like to learn more about, or that you feel I’ve unfairly passed over, also, please don’t hesitate to let us know in the comments!
