Fiscal Cliff Deal Extends/Improves 12 Alt-Energy Credits

Discussion in 'Environment' started by Trakar, Jan 3, 2013.

  1. Trakar
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    Fiscal Cliff Deal Extends/Improves 12 Alt-Energy Credits

    January 2, 2013 By Christopher DeMorro
    [​IMG]While most Americans were enjoying the holiday break, Congress was called in for a special session to try and work out a deal to avoid the so-called “fiscal cliff.” A compromise was reached, a deal was passed, and while nobody is particularly happy with the “American Taxpayer Relief Act”, a number of green energy credits were extended for at least another year.
    The Senate version of the bill, which was passed by the House and signed by President Obama late last night, includes 12 green energy credits or extensions for the year 2013. In no particular order, these credits are;
    • Credit for energy-efficient existing homes is extended to 31 December 2013.
    • Credit for alternative fuel vehicle refueling property is extended to 31 December 2013.
    • Credit for 2- or 3-wheeled plug-in electric vehicles. In the case of a qualified 2- or 3-wheeled plug-in electric vehicle, up to 10% of the cost of the qualified 2- or 3-wheeled plug-in electric vehicle, or $2,500 may be allowed as a credit.
    • Qualifying 2- or 3-wheel vehicles need a 2.5 kWh pack (down from 4 kWh), are capable of achieving a speed of 45 mph (72 km/h)or greater, and must be acquired after 31 December 2011 and before 1 January 2014.
    • Extension and modification of cellulosic biofuel producer credit. The extension now carries through to qualified production beginning before 1 January 2014. Algae is treated as a qualified feedstock.
    • Additionally, the section strikes the term cellulosic biofuel in favor of “second generation biofuel”.
    • Incentives for biodiesel and renewable diesel are extended to 31 December 2013.
    • Extension of production credit for Indian coal facilities placed in service before 2009 for an 8-year period rather than a 7-year period. The amendment applies to coal produced after 31 December 2012.
    • Extension and modification of credits with respect to facilities producing energy from certain renewable resources. Among other provisions for municipal solid waste, hydro, and biomass facilities, production tax credits for wind facilities are extended to 1 January 2014.
    • Credits for energy-efficient new homes are extended to 31 December 2013.
    • Credits for energy-efficient appliances are extended into 2013.
    • The special allowance for cellulosic biofuel plant property is extended to 1 January 2014. In addition, algae is treated as a qualified feedstock for such.
    • The special rule for sales or dispositions to implement FERC or state electric restructuring policy for qualified electric utilities is extended to 1 January 2014.
    • Alternative fuels excise tax credits are extended to 31 December.
    Of special note to green vehicle enthusiasts is the extension of the up-to $2,500 tax credit for electric motorcycles and trikes, as well as the inclusion of algae as a qualified feedstock for biofuel production plants...
    (Rest at link above)

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    I know better than to believe it but this does sound like they are planning on taking up some major funding plan but these are already in "rider" format so I presume they can be tacked onto later budget funding bills.
    We shall see, but these are still far too tepid even in combination with hundreds of other such riders, to address the magnitude of the problems we face due to AGW. They all will provide some coping assistance, but this is not a serious approach to addressing climate-change in a responsible and reasoned manner.
     
  2. Matthew
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    Matthew Blue dog all the way!

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    So the wind production tax cut was extended that they were worried about?
     
  3. Matthew
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    Matthew Blue dog all the way!

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    Tax credit extension boosts Mass. wind industry




    Extension of wind energy credits to boost local industry - Business - The Boston Globe
     
  4. Trakar
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    Ah, I see. I only read about this section of laws that apply primarily to individuals and municipal facilities. The Wind credit was more a production rider. I wonder if any of the manufacturing and industrial credits survived?
     
  5. daveman
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    Wait -- I thought green energy didn't need government subsidies...?
     
  6. Old Rocks
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    Same as coal, oil, and gas.
     
  7. daveman
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    I'll be darned. The way Trakkar was talking on my German wind energy thread, I was under the impression that wind didn't need subsidies to compete.
     
  8. Old Rocks
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    Old Rocks Diamond Member

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    In Europe, where the cost is higher, it doesn't. That is why the rich boys owning the generating plants using coal lobbyed their politicians to prevent the less costly electricity from Germany from being sold on their grid.
     
  9. daveman
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    Reality seems to disagree with you:

    Germany Addresses Problems with Renewable Energy Subsidy System - SPIEGEL ONLINE
    Finally, the Renewable Energy Act, while it provides excellent incentives to build wind turbines, does not provide incentives to build the natural gas-fired power plants the country needs to fill the holes with the sun isn't shining and the wind isn't blowing. ​
    Rather short-sighted of them, don't you think?

    Or does the wind blow and the sun shine 24/7 in Germany?
     
  10. Oddball
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    So, it really wasn't a bill to forestall fiscal Armageddon, but another opportunity to pork it up for the usual band of plunderers and moochers.

    Totally called it.
     

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