Thread: New Energy Bill

http://www.rednova.com/news/politics...o_energy_bill/
That means I have mixed emotions.

"Oil and gas subsidies in the bill come in at about $1.5 billion, Grassley said, much lower than the House-written bill, which had about $4 billion in such incentives. The final package will have $3.1 billion in incentives to produce electricity from wind, solar and other renewable sources and $1.3 billion for efficiency and conservation."

If these numbers are real then that's excellent.

Presumably the solar provisions are as follows:

• Increases the existing 10% tax credit for commercial solar installations to 30% for two years; no cap on amount of credit; applies to all property placed in service after December 31, 2005 and before January 1, 2008; credit reverts to the permanent 10% credit thereafter

• Creates a new 30% tax credit for residential solar installations for two years; capped at $2000; applied to all property placed in service after December 31, 2005 and before January 1, 2008

• All solar technologies, including PV, solar water heating, CSP, and solar hybrid lighting, are eligible to claim the credit.

Thats great, at least it will let us in the Alt. Energy sector prove our worth in the scheme of things.

I can solve everyones problem with this...candles...lots of candles....plus people will be happier because they might get laid more....just my thoughts.