Markey/Waxman legislation on Climate Change Released; News for Marine Renewables Developers
On May 15, 2009, Representatives Waxman and Markey released the American Clean Energy and Security Act of 2009 (ACES) (H.R. 2454) comprehensive energy legislation to deploy clean energy resources, increase energy efficiency, cut global warming pollution, and transition to a clean energy economy. This brief summary focuses on key provisions of the the bill relevant [...]
Good News! President’s Budget Released
Good news! The President’s FY10 budget request to Congress that was just released (view it here) includes $30 million for the Water Power R&D program. By comparison, President Bush’s budget request for FY09 was only $3 million. By the end of the appropriations cycle for FY09, Congress had appropriated $40 million for the water power [...]
Introduction of the 2009 Marine Renewable Energy Promotion Act
The press release for OREC on the introduction of the 2009 Marine Renewable Energy Promotion Act in the House of Representatives by Rep. Jay Inslee can be found here OREC Inslee Marine Act 04/28/09 .
OREC Releases Case for Funding
OREC recently released a Case for Funding. To view it click here.
$40 Million for Water Power in FY09 Omnibus Act
The FY2009 Omnibus Appropriations Act has been released (click here to view) and there’s more good news for marine renewables. Appropriations for FY09 include $40 million for the Department of Energy’s water power program, a substantial increase over the $10 million that OREC was instrumental in securing for 2008. OREC has been working to ensure [...]
Stimulus Bill Promises to Buoy Marine Renewables Industry
On Tuesday, February 17, 2009, President Obama signed into law the American Recovery and Reinvestment Act of 2009, or as it is commonly called, the “stimulus package.” The legislation contains a combination of tax cuts and funding programs that bring unprecedented support to the marine renewables industry. Despite the legislation’s fast track, OREC managed to [...]
House Stimulus Package to Benefit Marine Renewables
A proposed House stimulus bill contains several provisions that would give a boost to marine renewables, through a variety tax incentives and financing mechanisms (clean energ bonds) that will help bring needed capital to marine renewables projects. To view the legislation, click here. Here’s a summary of the features that would benefit marine renewables. Long-term [...]
OREC Letter to Congressional Leaders Regarding Stimulus Package
On January 14, 2009, OREC wrote to congressional leadership seeking inclusion of $100 million for ocean and marine renewable energy development in the stimulus package that is currently the subject of negotiations between President Elect Obama and the new Congress. In the letter, OREC emphasized the national importance of building a marine renewables industry in [...]
Marine Renewables Finally Get PTC (10/08)
In September 2008, Congress passed a $700 billion financial bailout package, which included the Energy Improvement and Extension Act of 2008 , (H.R. 1424) signed into law by President Bush on October 3, 2008. Of significance to marine renewables, the legislation included a production tax credit (PTC) of 1.0 cent/kwh for marine renewable projects that [...]
OREC Secures Some Benefits for Ocean Energy in New Energy Bill…But Tax Credits Must Wait Until Next Year
On December 19, 2007, President Bush signed into law the Energy Act 2007. OREC played an instrumental role in securing important benefits for the ocean and marine renewable energy industry, including: * Authorizing $250 million for Research, Development, Demonstration and Commercial Application to Expand Marine and Hydrokinetic Renewable Energy Production. * Authorizing the Secretary of [...]
