Senate's Approval Pushes Clean Tech Funding

Brian Hicks

Written By Brian Hicks

Posted December 16, 2010

As your clean tech informant, it would be wise for me to update you on savvy investments in the industry.

And today I want to cover one that comes at the hands of our own government and the Obama Administration.

On Wednesday, the Senate approved an $858 billion package of tax cuts and credits, with its next stop at the House of Representatives. The passing of this package would mean a continuation of the middle and upper income tax cuts made by Bush.

But as clean energy investors our interests are drawn to other areas…most importantly Section 1603, which includes funding for renewable energy projects, a 45-cent/gal credit for blenders to add ethanol to their gasoline mixes plus a 54-cent/gal tariff on imported ethanol.

The numbers and words all sound good, but what does this mean for green energy investors.

Well, according to Tom Buis, CEO of Growth Energy, this means that “the Senate is committed to enacting sound tax policies that invest in green industries, like ethanol, to reduce our dependence on foreign oil, create jobs here in the United States, improve our environment and strengthen our national security.

We’ve talked about clean energy’s positive funding before….

And if Tom Buis is correct, clean tech may be looking towards a bullish future.

–Michael Boytano 

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