Extending Tax Credits For Biomass For An Additional 5 Years
Essential tax credits for existing biomass plants are set to expire in 2009. These production tax credits were awarded to biomass power plants in 2004 to increase investment and promote the growth of the biomass power industry. If Congress allows these tax credits to expire, plants will be forced to close and jobs will be lost. Congress must extend the production tax credit for an additional 5 years for the facilities. These plants employ thousands of hard-working Americans, often in small rural communities, and should continue to receive the same support that other renewable technologies receive.
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California Energy Commission Letter to Senator Feinstein (D-CA)
California Energy Commission Letter to Senator Lincoln (D-AR)
Biomass Power Tax Extension Q&A
Understand the basics of the BPA’s position on a tax extension for the nation’s biomass plants
Hundreds of Jobs Eliminated with the Loss of Biomass Production Tax Credits
Background on Expiring Production Tax Credits for “Open-loop” Biomass
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Amendment to Extend the Credit Period for Certain Open-Loop Biomass Facilities
[HR 2528]
Amendment to Extend the Credit for Renewable Electricity Production to Include Biomass Power
[S 870]
Making Tax Credits For Biomass The Same As Other Renewables
Renewable energy sources such as wind and geothermal power receive federal production tax credits to promote investment in clean energy and reduce America’s dependence on foreign oil. Because clean and renewable energy is more expensive to produce than fossil fuels, these federal production tax credits are critical to the renewable energy industry. Under the American Recovery and Reinvestment Act of 2009, biomass power was awarded 1/2 the production tax credit that other renewable energy sources such as wind and geothermal power received.
The Biomass Power Association is urging Congress to level the playing field in the renewable sector by giving biomass power the same tax credits as other renewable energy sources. Congress must provide tax equity, or “parity,” in the production tax credit. Biomass power is taxed at twice the rate of competing renewables, resulting in substantial competitive disadvantage. Congress should not pick winners and losers in the renewable energy industry, but instead give biomass the same tax credits as other renewable sources.
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Tax Equity will Increase American Jobs, Green Energy
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REPAIR Act:
The Renewable Energy Parity and Investment Remedy Act 2009
[S 1090]
The Renewable Energy Parity Act 2009
[HR 2626]
Amendment to Eliminate the Reduction in the Credit Rate for Biomass Facilities
[S. 1030]
A National Renewable Electricity Standard (RES) Will Mandate the Deployment of Biomass And Other Renewables Technologies
The American Clean Energy and Security Act of 2009 has the potential to create thousands of new jobs by requiring that all states produce a percentage of their electricity from renewable energy sources such as biomass, wind, and solar power. This bill currently mandates that 15 percent of the country’s energy supply come from renewable sources by 2020. But a renewable electricity standard of 15 percent falls far short of a meaningful commitment to clean energy jobs and the environment. The Biomass Power Association is calling for a 25 percent renewable electricity standard that recognizes the abundance and sustainability of clean, renewable biomass power. By strengthening our commitment to renewable energy, Congress can create thousands of green jobs all across the Unites States, and especially in rural communities.
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An RES Will Help America In Many Ways
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The American Clean Energy Leadership Act 2009
[S 1462]
The American Clean Energy and Security Act 2009
[HR 2454]
The American Renewable Energy Act of 2009, sponsored by Senator Amy Klobuchar (D-MN), requires that each state produce 25 percent of its electricity from renewable sources by the year 2025. In partnership with the RES-Alliance for Jobs, the Biomass Power Association supports Senator Klobuchar’s commitment to reducing greenhouse gases and creating thousands of green jobs by setting high standards for renewable energy. An Energy Information Administration study shows a national RES of 25 percent by the year 2025 reduces power sector carbon dioxide emissions by 56 million tons and creates approximately 300,000 new jobs.
Generating 25 percent of our electricity from renewable sources will mark a major shift towards a green economy and greatly reduce America’s dependence on fossil fuels. Congress should seize this opportunity to implement meaningful mandates and incentives to produce clean, renewable electricity that stimulates the economy and protects the environment.
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