Tuesday, June 26, 2007

Renewable Energy News for June 26, 2007

  • A Closer Look at the Renewable Energy and Energy Conservation Tax Act of 2007 (H.R. 2776): U.S. House Ways and Means Committee recently reported H.R. 2776 out of committee on a 24 to 16 vote. The committee markup summary reviews the key provisions of the tax bill, which include, among other things, a long-term an extension of the production tax credit (PTC) for renewable energy sources to 2012, an expansion of the clean renewable energy bond (CREB) program, a long-term extension of the solar energy and fuel cell property credit to 2016, and an expansion of the residential energy-efficiency property program. The bill also includes provisions for a plug-in hybrid vehicle credit and tax incentives for cellulosic alcohol and biodiesel production.
  • Funding Available for Renewable Energy Projects in Massachusetts: Massachusetts Technology Collaborative (MTC), which administers the Renewable Energy Trust Fund, is seeking applications for the Large Onsite Renewables Initiative to expand production and use of distributed renewable energy in Massachusetts. Approximately $3.75 million in funding is available for feasibility studies and design and construction of new renewable projects. Applications are due August 21, 2007. On a related note, MTC has also recently started publishing a new blog on wind energy in Massachusetts.
  • Solar Power in New Hampshire? New Hampshire Public Radio takes a look at the Granite State's new Renewable Energy Portfolio Standard (RPS) and in particular its requirement for solar energy investments.
  • Major Massachusetts Developments Must Estimate GHG Emissions and Offer Mitigation Plan: Democratic Energy discusses the new policy in Massachusetts that will require some developers to quantify the greenhouse gas (GHG) emissions generated by their projects and identify ways to avoid, minimize, or mitigate the emissions. The new guidelines apply to developments requiring an Environmental Impact Report (EIR) that need an air quality permit, receive state funding or generate a significant number of new vehicle trips.
  • Spanish Iberdrola Reaches Deal to Purchase Energy East Corp (Wall Street Journal subscription required). The Wall Street Journal is reporting that the Spanish renewable energy company Iberdrola is making another play to expand its U.S. presence. Iberdrola has agreed to pay $4.5 billion for Energy East Corp of Portland, Maine, which serves approximately 3 million customers in Maine, New Hampshire, New York, and Connecticut. The purchase will be Iberdrola's fifth acquisition of a U.S. utility this year and reflects the company's aggressive efforts to move into the U.S renewable energy sector.

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