KEY NEW ENERGY VOTE DUE IN SENATE

US Senate bill includes clean energy grant renewal
Ayesha Rascoe (w/Richard Cowan and David Gregorio), December 10, 2010 (Reuters)

"The compromise tax package unveiled by Senate Democrats…includes a one-year extension of a popular renewable energy grant program, which supporters say is vital for the clean energy sector.

"The potential extension of the program, which allows solar, wind and other renewable companies to receive cash grants in lieu of tax credits, was cheered by green energy groups…"

Click thru to the American Wind Energy Association issues website and register an opinion in the Senate

"Renewable energy companies say the cash grant program makes financing for projects easier and cheaper, especially in a weak economy where it's harder to find investors who need to offset taxable income with tax credits…Still, the Senate's provision is less than the two-year extension clean energy groups had called for.

"The Senate is set to hold a test vote on the tax package on Monday. If passed in the chamber, the it would still need approval in the House of Representatives…"

Click thru to the Solar Energy Industries Association government affairs website and register an opinion in the Senate

"Some clean energy groups are hoping that the House may pass a version of the bill with a lengthier extension of the renewable energy program…More than 80 House Democrats signed a letter this week in support of including a two-year extension of the renewable program in any upcoming tax legislation.

"Wind energy supporters have warned that there would be 20,000 layoffs in the sector within the next three months without the renewal of the program, which was initially created in the economic stimulus law…The solar industry is also depending on an extension of the energy grant program, which backers have said could create 27,000 new solar jobs next year…"