BREAKING: GREAT NEWS FOR NEW ENERGY INCENTIVES!

This just in: New Energy incentives, Production Tax Credits (PTCs) and Investment Tax Credits (ITCs), survived the Senate Finance Committee mark-up of the economic stimulus package.

Tell the Senate to keep them in the final package at: POWER OF WIND

Solar, Wind Energy Tax Credits In Senate Stimulus Plan
Siobhan Hughes, January 30, 2008 (Dow Jones Newswires via Nasdaq)

WHO
The Senate Finance Committee

WHAT
The committee added Production Tax Credits (PTCs) and Investment Tax Credits (ITCs) to the Senate’s version of the economic stimulus package.

WHEN
The committee’s measure would extend the tax credits, which will expire at the end of 2008 if not extended, through the end of 2009.

WHERE
When the committee’s package faces the scrutiny of the full Senate and the threat of a veto from the President, the tax credits may not survive.

WHY
- Wind producers and geothermal producers would get 2 cents per kilowatt-hour of power produced for every turbine or geothermal project built through 2009. Total cost: $3 billion over 10 years.
- Solar and fuel-cell installers would get a 30% tax credit for installations through the end of 2009.
- Residential purchasers of solar systems and solar hot-water systems through 2009 would be eligible for a 30% tax credit toward the cost of the system up to $2000.