On July 29, 2015, a bill to amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes (H.R. 3390) was introduced in the House. The bill would expand production and investment tax credits that are currently available to renewable energy producers to apply also to renewable chemical manufacturers. The program allows manufactures to choose either: (1) a 15 cents per pound production credit for eligible renewable chemicals; or (2) a 30 percent investment tax credit for the construction of renewable chemical production facilities. The credits will be in effect for five years after the bill is enacted, and will be capped at $500 million over the life of the program. The Biotechnology Industry Organization (BIO) has expressed its support for H.R. 3390, restating the need to create a level playing field in the U.S. for industrial biotech companies to innovate and develop new renewable chemicals and biobased products.
- Bergeson & Campbell, P.C.
- Tax credits for renewable chemical production introduced in the ...
Case Study: New Tennessee Waste-To-Energy Plant
Clean Conversion Infrastructure Addition To Give Lebanon Renewable EnergyPHG Energy will provide the vibrant and growing Middle Tennessee city of Lebanon with a new method of sustainable waste disposal and renewable energy production when this system is completed in 2016. Commercial wood waste that was previously dumped into in area landfills, hundreds of tons of scrap tires, and local municipal sewer sludge will be blended to provide feedstock for the clean gasification process. Synthetic gas produced will fuel...
The Energy Consultant's Guide to a Green Energy Brief
A practical overview of how Combined Heat and Power (CHP) technology can be specified to meet a green energy brief When a green energy brief talks about conserving energy, reducing energy costs, reducing CO2 emissions, and improving the reliability of energy supply, energy consultants should consider Combined Heat and Power (CHP), which can generate: Low carbon energy – using fossil fuels, e.g. natural gas. Renewable (zero-carbon) energy – using non-fossil fuels. How dothe credentials of...
Open Teleconference Of The State Energy Advisory Board Announced
On June 17, 2016, the U.S. Department of Energy (DOE) announced an open teleconference of the State Energy Advisory Board (STEAB) in the Federal Register. STEAB advises DOE and the Office of Energy Efficiency and Renewable Energy (EERE) on the operation of its energy efficiency programs, renewable energy programs, and grant programs for research and deployment in energy efficiency and renewable energy fields. The tentative agenda includes: "Receive STEAB Task Force updates on action items and revised objectives...
3 Steps to Help You Prepare for your Next Energy Contract Renewal
Knowing your energy contract is up for renewal is one thing; getting the best deal on your energy procurement is another. With many contracts scheduled for renewal this autumn, energy contract renewal will be high on the to-do list for energy managers and procurement teams across the country. A big part of this will be getting to grips with the constant changes in the utility markets and working out the best time to place energy contracts. But despite all the best intentions to renew your contract in plenty of...
South Africa innovates to support soaring renewables growth
South Africa`s 2010 Integrated Resource Plan (IRP) targeted 8.4 GW of wind and 8.4 GW solar capacity by 2030 and in 2011 the government launched its Renewable Energy Independent Power Producer Procurement Program (REIPPPP) to accelerate development. The REIPPPP has thus far procured 3.4 GW of wind, 2.4 GW of PV and 400 MW of CSP capacity and has attracted 193 billion rand ($13 billion) of private sector investments. The South African government is working hard to process the high number of applications for...