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US Senate votes for solar, wind tax credits; faces hurdles


  3. Chique
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WASHINGTON -(Dow Jones)- The U.S. Senate on Thursday voted to extend tax credits for wind-power and solar-energy projects, but the measure is unlikely to become law in its current form due to concern it would add to the nation's deficit.

By 88-8, the Senate added the renewable-energy tax credits to a major housing bill. Companies such as utility XCel Energy Inc. (XEL), the largest U.S. seller of wind-generated energy, have been calling on Congress to act quickly. The tax credits expire at the end of the year, but executives are making decisions now about whether to invest in renewable projects beyond this year.

The U.S. House of Representatives has hardened its opposition to this version of the tax-credit extensions, which are estimated to cost $6 billion over 10 years. House leaders have strong objections to deficit-financed tax breaks, and with few exceptions offset lost tax revenue with tax increases or spending cuts elsewhere.
Chique

11 responses // US Senate votes for solar, wind tax credits; faces hurdles

  • Let me see we can go into debt up to our eyebrows to destroy Iraq, but not to save the environment? They are idiots, replace them all.
    Marilynn_Murray
  • maybe we could get rid of farm vehicle (hummers count), corporate, large corn/soya/canola farm and upper income tax breaks to allow for creative solutions to environmental issues by subsidizing eco friendly projects... am i taking crazy pills or is this so obvious that it hurts...?
    phillyphil
  • Have you seen the little piggies
    Crawling in the dirt
    And for all the little piggies
    Life is getting worse
    Always having dirt to play around in.

    Have you seen the bigger piggies
    In their starched white shirts
    You will find the bigger piggies
    Stirring up the dirt
    Always have clean shirts to play around in.

    In their styes with all their backing
    They don't care what goes on around
    In their eyes there's something lacking
    What they need's a damn good whacking.

    Everywhere there's lots of piggies
    Living piggy lives
    You can see them out for dinner
    With their piggy wives
    Clutching forks and knives to eat their bacon.
    rabidlemur
  • Back during the Carter administration there were tax credits galore for people wanting to go solar, but then came Ron.
    patsarts
  • Does anyone know of personal windmills that individuals who have enough land for one can set one up? One place we lived I remember a neighbor had one. Supplied all his energy needs when the wind blew and I think the electric company had to pay him for electricity he generated that went back to them. Anyone know more about it?
    resolute
  • http://windmills-online.com/?p=43
    Not sure about wind generation, but our local electric company will install solar panels, own them and maintain them and credit you back with the overage produced. They probably have to factor in the installation and maintenance cost. If you buy it yourself, in some cases your electric is free and you sell the overage back to the electric company. Sounds like a win-win to me but few are taking advantage of it. I'm working on my boss for having them installed on our commercial properties. Hawaii has the windmills and the solar.
    Chique
  • Thanks Chique, I will check into this further.
    resolute
  • everyone should drive scooters and motorcyles and you should have to have a specialized need to own a truck (like being a farmer). that'd go a long way in fixing the problem. it'd also be nice to see a better rail and bus system.
    jh64487
  • jh64487, Sounds good, except when you need to buy groceries or take a family vacation, or be in out of the rain or snow. We need hybrid, or electric cars and a first class public transportation system. We need solar panels on our roofs, and windmills in the backyard.
    Marilynn_Murray
  • I'd love to ride a scooter or bike - but we live 8 miles from town and in Michigan the weather can drop to -20 and the snow was a foot deep at times this winter. brrrr.
    patsarts
  • marilynn, I totally agree, electric is the way to go. Ethanol costs about the same as gas and its driving our food prices sky high.
    theblockbuster

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