As was reported at Hill Heat, and elsewhere, Senators John Ensign (R-NV) and Maria Cantwell (D-WA), led a bipartisan group of senators in announcing a bill to incentivize the development of renewable energy and expand energy efficiency in buildings, homes, and appliances. The Clean Energy Tax Stimulus Package of 2008 (pdf) will provide some certainty to investors and those individuals and businesses that are considering adding solar, wind, biomass, methane capture, or other clean energy technologies.

Teetering on the brink of passage

Renewable Energy tax packages always face trouble in the Senate, and this dates back to our first energy crises in the 1970s. In a more recent example, a tax package failed repeatedly on the Senate floor, including a $22 billion version that fell one vote short of winning approval as an amendment to a broader energy bill in December. Many Republicans balked at the funding mechanism for the previous renewable energy incentives because they rescinded tax breaks from the big energy companies (which was spun by the right as a “tax increase.”).

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