CleanTech OC Daily - 8/8/12

Wednesday, August 8, 2012

Overwhelming, Bi-Partisan Senate Finance Committee Majority Votes to Extend Wind Power Tax Credits
The American Wind Energy Association (AWEA) announced yesterday the Senate Finance Committee passed the “Family and Business Tax Cut Certainty Act,” legislation that would extend both the renewable energy production tax credit (PTC) for utility-scale wind power and the investment tax credit (ITC) for community and offshore wind power. The response from the announcement has been mixed - wind turbine manufacturer Vestas is cautiously encouraged, while Exelon is working to assure the tax credit extension doesn’t make it through Congress.

Chinese auto giant Wanxiang says it plans to invest up to $450 million in to ailing battery company, A123 Systems. The deal, subject to A123 meeting certain conditions, could leave Wanxiang owning 80% of the firm.

Following Monday’s announcement from the Department of Defense, who will open 16 million acres of land in the West for renewable energy development, the Army began accepting bids for green energy installations that will be deployed on military bases and facilities across the U.S. Instead of paying the local utility for its electricity, the Army would pay a solar company directly thus creating business for renewable energy companies.

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