Energy Center

Clean Energy Bill signed by President Bush

October 3, 2008

The newest economic stabilization bill includes clean energy tax incentives --

Consulting-Specifying Engineer, 10/8/2008 7:39:00 AM--

President Bush signed the $700 billion Emergency Economic Stabilization Act of 2008 (H.R. 1424) into law on Oct. 3, 2008, which also extended and enhanced critical tax credits and financing relating to renewable energy and energy efficiency.

The Energy Improvement and Extension Act of 2008, which was attached to H.R. 1424, provides a one-year extension of the production tax credit (PTC) for wind energy, keeping the credit in effect through 2009. The bill also provides a two-year PTC extension, through 2010, for electricity produced from geothermal, biomass, and solar energy facilities, as well as trash-to-energy facilities, small hydropower facilities using irrigation water, capacity additions to existing hydropower plants, and hydropower facilities added to existing dams.

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