House Bill Would Extend Renewable Energy Tax Credits
House Republicans on July 23 introduced an energy bill that would make permanent the Section 45 tax credit for renewable energy; the credit is 1.5 cents per kilowatt hour for electricity produced from wind, close-loop biomass, open-loop biomass, and other sources. In addition, the bill would extend the tax credits for biodiesel and renewable diesel for five years, until December 31, 2013. H.R. 6566 also includes provisions that would open offshore and Arctic land to oil and gas exploration.