Renewable energy is the big energy industry winner in the stimulus bill signed into law on Feb. 17. By ENR’s estimate, the new law provides $30.6 billion in energy-related spending and tax incentives. But a provision for $50 billion in federal loan guarantees to build new nuclear power plants was dropped from the bill that emerged from the conference reconciling the House and Senate versions. Ties That Bind. Bill aims to stimulate smart-grid development but doesn’t focus on projects. While welcome, cash, tax credits and loan guarantees may not be what’s most needed. “The renewable-energy industry is doing fairly well,
A huge infusion of money for the Energy Dept. is being proposed to help modernize the U.S. electricity grid and develop electric vehicles and other cutting-edge energy technologies. Power contractors are enthusiastic about the effects on the industry and states are getting in line for their share. The House bill would pump billions of dollars into DOE programs, including $11 billion to develop a “smart grid.” It also would provide $8 billion for loans for renewable energy and transmission lines linking wind farms in the rural heartland to urban areas. Adding transmission capacity and smart grid development are planned. Related