Feb 12, 2009

Speaker of the House, Nancy Pelosi releases information on the HR1, the 2009 Federal Stimulus Bill:

Tax Incentives to Spur Energy Savings and Green Jobs

• Provides $20 billion in tax incentives for renewable energy and energy efficiency over the next 10 years.
• Includes a three-year extension of the production tax credit (PTC) for electricity derived from wind (through 2012) and for electricity derived from biomass, geothermal, hydropower, landfill gas, waste-to-energy, and marine facilities (through 2013).
• Provides grants of up to 30 percent of the cost of building a new renewable energy facility to address current renewable energy credit market concerns.
• Promotes energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.
• Provides a tax credit for families that purchase plug-in hybrid vehicles of up to $7,500 to spur the next generation of American cars. 
• Includes clean renewable energy bonds for State and local governments.
• Establishes a new manufacturing investment tax credit for investment in advanced energy facilities, such as facilities that manufacture components for the production of renewable energy, advanced battery technology, and other innovative next-generation green technologies. 

(Source: speaker.house.gov)

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