Talking Points Memo has more but here are some tidbits on renewable energy, energy independence and sustainability. Yeah!
Clean, Efficient, American Energy: To put people back to work today and reduce our dependence on foreign oil tomorrow, we will increase renewable energy production and renovate public buildings to make them more energy efficient.
Smart Grid/Advanced Battery Technology/Energy Efficiency
Provides a total of $30 billion for such initiatives as a new, smart power grid, advanced battery technology, and energy efficiency measures, which will create nearly 500,000 jobs.
Transforms the nation’s electricity systems through the Smart Grid Investment Program to modernize the electricity grid to make it more efficient and reliable.
Supports U.S. development of advanced vehicle batteries and battery systems through loans and grants so that America can lead the world in transforming the way automobiles are powered.
Helps state and local governments make investments in innovative best practices to achieve greater energy efficiency and reduce energy usage.
Spurs energy efficiency and renewable energy R&D.
Tax Incentives to Spur Energy Savings and Green Jobs
Provides $20 billion in tax incentives for renewable energy and energy efficiency over the next 10 years.
Includes a three-year extension of the production tax credit (PTC) for electricity derived from wind (through 2012) and for electricity derived from biomass, geothermal, hydropower, landfill gas, waste-to-energy, and marine facilities (through 2013).
Provides grants of up to 30 percent of the cost of building a new renewable energy facility to address current renewable energy credit market concerns.
Promotes energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
Provides a tax credit for families that purchase plug-in hybrid vehicles of up to $7,500 to spur the next generation of American cars.
Includes clean renewable energy bonds for State and local governments.
Establishes a new manufacturing investment tax credit for investment in advanced energy facilities, such as facilities that manufacture components for the production of renewable energy, advanced battery technology, and other innovative next-generation green technologies. [emphasis mine]
This is encouraging news as we hope to develop manufacturing of renewable energy products, the V-LIM turbine and a capacitive storage system, right here in Coos County.
