Tax Credits, 'Green Bank' to Finance Renewable Projects Under Consideration
Congressional leaders and Obama advisers are looking at including as much as $25 billion of energy tax credits in the economic stimulus package in an effort to bolster renewable energy projects, fuel-efficient cars and biodiesel production, said sources familiar with the negotiations.
Many of these items were featured in President-elect Barack Obama's campaign pledges, but originally lawmakers were considering putting them in a separate energy bill. Though there might still be a separate bill, Senate lawmakers are seeking to include more energy provisions in the stimulus package now being assembled, sources said.
"This doesn't mean that more won't be done later," said one person involved in the talks, "but there will be more now than previously anticipated, given the economic times."
Wind and solar industry executives have pointed to a sharp downturn in financing for renewable energy projects since the credit crunch worsened in September....MORE