ENERGY AND ENVIRONMENT ~ NEWS
Energy Extenders Markup
The Senate Finance Committee will mark up an energy extenders package in July or September. The package, which is expected to be only partially offset if at all, is likely to extend credits for the construction of new energy efficient homes and certain non-business energy property as well as the date for wind facilities to claim the production tax credit. It is not likely to expand the investment tax credit or the advanced energy manufacturing tax credit.
Congressional Research Study of The Production Tax Credit
On June 20, the Congressional Research Service released U.S. Renewable Electricity: How Does the Production Tax Credit (PTC) Impact Wind Markets?, which found that extending the 2.2-cent-per-kilowatt-hour production tax credit for the wind industry may not result in greater long-term wind power generation capacity, given natural gas prices and state renewable portfolio standards. Even as 2012 saw a record 10 to 12GW of generating capacity added in a race to meet the December 31 deadline for the credit’s expiration, an extension of the credit would only result in 2-4GW of capacity in 2013-14, compared to 1-2GW if the credit is not extended.
July 1, 2012
Legislation Introduced
Representatives Ed Markey (D-MA) and Grace Napolitano (D-CA) introduced legislation (H.R. 6024) June 26 to authorize development of hydropower and efficiencies at existing Bureau of Reclamation facilities.
The following day, Representative Earl Blumenauer (D-OR) introduced legislation (H.R. 6031) to amend the Internal Revenue Code of 1986 to extend the production and investment tax credits for wind facilities and to modify the foreign tax credit rules applicable to major integrated oil companies that are dual capacity taxpayers.
The same day, Congressman Ed Markey (D-MA) introduced legislation (H.R. 6041) to provide that the Secretary of Interior shall require the disclosure of political contributions as a condition of accepting bids for oil and gas leases of Federal onshore and offshore lands.
Senators Jeff Bingaman (D-NM), Olympia Snowe (R-ME) and Dianne Feinstein (D-CA) introduced the Expanding Industrial Energy and Water Efficiency Incentives Act (S. 3352) June 28 to amend the Internal Revenue Code of 1986 to extend energy-related tax provisions, creating incentives for America’s industrial sector to significantly enhance its end-use energy efficiency in four critical areas – water reuse, advanced motors with adjustable speed drives using process control and connection to Smart Grid, chillers, and highly efficient thermal biomass – and enhancing incentives for combined heat and power systems.
Source: ML Strategies, LLC
Publications link
David Leiter
Sarah Litke
Daniel Phillips
Kudos to the Cape Vincent blogs.
ReplyDeleteCape TM Bay voters for wind has their own site. It is still on the net and has not been updated for months. A dismal failure for the wind developers and their very expensive relations efforts.
You are wrong about Bp being good for us. The CVFD is dealing with them for a large sum of money.that will take care of their money problems and they notlonger have to hope for town money and donations from people and fundrasiers to get along.
ReplyDelete11:28
ReplyDeleteWhat are you saying?
I am saying Bp is good for our town and they have lots of money to give away. The Cape fired dept. is going to get lots from them How hard is that to figure out.
ReplyDeleteyeah right, who cares about
ReplyDeletea few measly dollars
11:28
ReplyDeleteI think you are telling tall stories. Bryan Stumpf was trying to make promises all over the village.
Show us the money.
11:28 I am probably not the only one that just cringed when you suggested CVFD is prowind. Being prowind is not good for business. I will always support the CVFD, but you may have uspet a lot of anti-winders that usually donate to this organization by putting them as prowind.
ReplyDelete