Green Options

Suddenly, “green business” is a little low on green and high on business. Companies that were built to take on Big Oil are now sharpening their elbows in the lobbying fight to make sure that the bottom line does not fall victim to grid enhancements that are built out by someone else.

After much arm wrestling, the Senate came to an agreement on energy tax breaks which are set to expire later this year. Both Sens. Max Baucus (D-Mont.) and Charles Grassley (R-Iowa), of the Senate Finance Committee, made the announcement on Tuesday.

The tax package will provide $17 billion in renewable energy tax breaks. It will also adjust the alternative minimum tax, extend tax credits for children and create several business tax cuts. It will also set aside $7 billion in tax relief for those affected by recent floods and hurricanes. The bill extends the solar and wind investment tax credit for eight years, and the production tax credit for biomass and hydropower for up to two years.