Green Options » itc

Environment Minister Suggests U-Turn on Indian Climate Policy…

Govind Singh — Thu, 22 Oct 2009 16:21:00 +0000

File Photo: Hillary Clinton and the Indian Environment Minister in New Delhi

..and then takes a U-Turn the very next day!

In a reported letter to the Prime Minister of India, Mr. Jairam Ramesh, the Indian Environment Minister proposed a radical shift in India’s stand on climate change–away from its national position on climate negotiations–which India has backed since 1990 and which was defended robustly even in UN talks in Bangkok earlier this month.

Minutes after the news spread, political parties sitting in the opposition were quick to respond. Within the next few hours, the Environment Minister issued a clarifying statement for national media and the entire Nation!

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Coming Soon to Major City Centers: The Green Power Express

Ariel Schwartz — Tue, 10 Feb 2009 21:55:53 +0000

One of the biggest problems with wind power is that it’s often trapped in low-density rural areas. ITC Holdings wants to bring wind energy to major US city centers with the “Green Power Express”, a network of transmission lines that will move 12,000 MW of power from the Midwest to cities like Chicago and Minneapolis.

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Return of Federal Small-Wind Tax Credit a Big Boost for Small Wind

Timothy B. Hurst — Sun, 12 Oct 2008 16:34:29 +0000

New investment tax credit of up to $4k to grow small turbine industry

Last week’s well-publicized economic bailout package, included several “sweeteners” to help it through the House. Extended were the tax credits for solar, wind, and geothermal as well as tax credits for green building and energy efficiency. But what also passed was a new federal-level investment tax credit for qualified small wind turbines. The ITC is valued at $500/.5kw capacity for up to $4,000 and available for small and micro-wind turbines (up to 100kw), including vertical-axis wind turbines, installed through 2016.

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Does The Credit Crunch Help Or Hurt The Issue of Climate Change?

Reenita Malhotra — Tue, 07 Oct 2008 17:17:13 +0000

Whether the global credit crunch will actually help or hurt the search for solutions to climate change is becoming a debatable issue.

Currently, the issue of climate change appears to be on the back burner as governments are focused on the financial problems that have shaken the global economy. It could be several months before politicians return to focusing their attention on long term problems like global warming.

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Green Economy Will Rebound Faster From Financial Turmoil

Reenita Malhotra — Sun, 05 Oct 2008 09:17:21 +0000

The green economy shows signs of rebounding faster than others shaken by the global financial turmoil. There are several indicators pointing to the fact.

Government Guaranteed Revenues for Large Renewable Energy Players

Unlike other industries, renewable energy has government-guaranteed revenues. However it is likely that as the credit crunch plays out, the re-bounders will be big utilities who are not reliant on banks for short term loans rather than start-ups who do.

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$700 Billion Bailout Includes Tax Credits For Renewable Energy Industries

Reenita Malhotra — Sat, 04 Oct 2008 23:18:40 +0000

Given the hue and cry that has been unleashed in America with regard to the bailout, there is finally good news for the renewable energy industry. The Emergency Economic Stabilization Act of 2008, passed by the House of Representatives with a vote of 263 to 171, and signed into law by President George Bush immediately afterwards, extends investment and production tax credits for the wind and solar industries. The extensions will be partly paid for by a change in the tax code for the oil and gas industry.

>>More on renewable energy tax credits in Congress

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Breaking: Senate Passes Extensions of Renewable Energy Tax Credits

Timothy B. Hurst — Tue, 23 Sep 2008 22:54:18 +0000

The United States Senate has voted to approve legislation containing a one-year extension of the wind energy Production Tax Credit (PTC) through December 31, 2009. The bill, H.R. 6049, also contained an extension of the Investment Tax Credit (ITC) for solar, and would create a new ITC for purchases of small wind systems used to power homes, farms and small businesses.

After failing to pass the extensions 8 times so far this year, the bill was approved by an overwhelming 93 to 2 majority. The only two Senators voting against the extensions were Republicans Crapo (ID) and Kyle (AZ).

Five Senators did not vote on the issue, and Republican presidential hopeful John McCain made his record on the issue a stunning 0-for-9 this year alone, answering the question many had whether he would finally show up to vote on this critical energy policy issue. In all fairness to Senator McCain, both Senators Obama and Biden also recorded an absent vote. One can only assume that Biden and Obama (and perhaps McCain) were tipped-off by their colleagues that the vote would be a landslide and chose not to come to Washington for the vote.

The cynic in me says that the only reason it passed this time is because we are so close to the election, and failing to pass the legislation is not a black mark that Senators want on their record in this critical campaign season, where the Democrats are poised to get a veto-proof majority of more than 60 Democratic Senators.

Next, the bill must be approved by the full House of Representatives in a vote later this week.

Senate to Vote on Renewable Energy Tax Credits: But will McCain Show Up this Time?

Timothy B. Hurst — Tue, 23 Sep 2008 15:24:33 +0000

McCain has been absent 8 times this year for critical vote

[Update: On Tuesday afternoon, the Senate passed H.R. 6049 by a tally of 93-2. Senator John McCain, along with Senators Obama and Biden, did not record a vote on the tax credits.]

The U.S. Senate is scheduled to vote as early as Tuesday, on the Baucus/Grassley Amendment to H.R. 6049, legislation that would extend tax breaks for renewable energy production and energy-efficiency measures.

Negotiators hammered out the extensive tax package to continue investment credits for solar, wind, and geothermal energy. It also creates a new tax credit for purchasers of plug-in hybrid vehicles.

>>More on Senate struggles with renewable energy at RG&B

The Senate version of the measure, would spend $17 billion on energy tax incentives over 10 years and pay for those incentives by limiting some oil and gas company deductions, altering tax treatment of certain foreign oil-related income and raising the per-barrel tax by four cents over three years.

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