Economic stimulus bill pushes renewable energy

WASHINGTON (Reuters) – The $825 billion economic stimulus package unveiled by Democrats in the House of Representatives on Thursday contains billions of dollars in tax breaks for renewable energy as well as spending for energy efficiency and transmission.

The legislation aimed at reinvigorating the U.S. economy, which is currently in a recession, would provide $20 billion in tax cuts for alternative energy including a multiyear extension of the production tax credit for wind, geothermal, hydro power and bioenergy.

The bill would also provide tax credits for research and development concentrated on energy conservation and efficiency.

Reuters