Energy and Clean Tech Connections (October 2008)
10/2008
In the October edition of Mintz Levin’s Energy and Clean Tech Connections, we’ve gathered recent information from a wide variety of sources in an effort to keep you abreast of what’s new in the world of clean energy. We draw your attention to the latest industry developments, news from Beacon Hill to Capitol Hill, grant opportunities, and upcoming events.
On the legislative front this month, after a long battle between the House and the Senate, Congress finally renewed $18 billion in clean energy tax credits as part of an economic bailout bill that also provided $700 billion to the ailing financial markets. The tax credits, which were extended for eight years beginning in 2009, will provide tax incentives to individuals and businesses to invest in solar and wind energy through both small residential and large-scale commercial projects. Unlike the current program, the new one will allow utilities to take advantage of the tax credits. In addition, it will provide tax credits for plants that are already generating electricity and for drivers buying electric cars, and it will eliminate the cap on tax credits for solar power. More information about the bill can be found here.
