Weekly Clean Energy Roundup: October 8, 2008

Economic Stabilization Bill Includes Clean Energy Tax Incentives Continuing Resolution Includes $25 Billion in Automakers Loans DOE Invests $43.1 Million in 21 Enhanced Geothermal Projects DOE Awards $83.3 Million to Develop a Sustainable Biofuels Industry Michigan Requires 10% Renewable Electricity by 2015 GM and Porsche Win the American Le Mans Green Challenge Economic Stabilization Bill Includes Clean Energy Tax Incentives President Bush signed the $700 billion Emergency Economic Stabilization Act of 2008 (H.R. 1424) into law last week, 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. In addition, the bill creates a new PTC for electricity produced by marine and hydrokinetic renewable energy systems (also called advanced water power systems) with a rated […]

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