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Sen. Finance Committee Adds Renewable Energy Tax Credits to Stimulus Bill
Friday, 1 Feb, 2008 – 1:00 | No Comment

On Wednesday, the Senate Finance Committee included measures to extend the Production Tax Credit (PTC) for renewable energy through the end of the 2009 in its version of an economic stimulus package originally proposed by President Bush. Under the Committee’s bill, wind companies would receive a tax credit, currently 2 cents per kilowatt-hour of electricity generated, for each new wind turbine that goes into operation through 2009. The tax credit, which also would apply to electricity from solar, geothermal and other sources as well as energy-efficiency rebates, would cost approximately $5.5 billion. The measures were introduced to the committee by Sen. Charles Grassley (R-Iowa).