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Biomass Energy Blog
Viewing entries tagged Energy
BTEC Issues Support for President Obama’s Energy Outlook, Urges Thermal Recognition and Extending Incentives
Posted by AESI
on Wednesday, 25 January 2012
in Biomass Energy News
·
0 Comments
WASHINGTON, January 25 – Today, the Biomass Thermal Energy Council (BTEC) expressed its support for President Obama’s State of the Union commitment to homegrown and clean energy sources. In the address, President Obama discussed the importance of tapping into America’s vast energy and technology resources to meet the nation’s energy needs and build the economy.
“We welcome President Obama’s call for an all-of the-above strategy to develop American energy,” said Joseph Seymour, BTEC Executive Director. “Creating local jobs and reducing our nation’s dependence on foreign oil have always been part of BTEC’s mission. We look forward to working with his administration in meeting these goals through the utilization of one of America’s most abundant renewable resources – biomass.”
In his remarks, President Obama urged Congress to pass clean energy tax credits. Such credits include a tax credit for the installation of a biomass-fueled stove, which expired on December 31st, 2011 and has yet to be extended. Another incentive is S. 1914, which was introduced by Sen. Olympia Snowe during the first session of the 112th Congress. The bill would create a performance-based home energy improvement credit that would reward heating cost reductions, among other measures. Other programs that have been successful in advancing biomass thermal energy include the Rural Energy for America Program (REAP) and the Advanced Biofuel Producer Payment Program from the 2008 Farm Bill.
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Stimulus Program: Energy Incentives Overview
Posted by AESI
on Tuesday, 23 March 2010
in Biomass Energy News
·
0 Comments
The American Recovery and Reinvestment Act of 2009 contains numerous tax provisions that incentivizes the rapid deployment of biomass to energy projects. These provisions present significant new opportunities for developers and investors of biomass projects. The extension of the production tax credit (PTC), which was previously set to expire at the end of 2010 offers a 1.5 cent tax credit for any closed loop biomass project (use of dedicated biomass crops) and 0.75 cent credit for any open-loop biomass project for the first ten years of a renewable energy facility’s operation. This credit is specific to projects placed in service on or before December 2013. The applicable limit for open biomass projects is no less than 150kwe nameplate capacity.
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