United States: Renewable Energy Tax Provisions In The Fiscal Cliff Legislation – The "American Taxpayer Relief Act Of 2012"

The House of Representatives last night approved H.R. 8, the "American Taxpayer Relief Act of 2012" (the "Bill"), by a vote of 257-167. The Bill was approved earlier in the day by the Senate by a vote of 89-8. Still pending signature by the President, the Bill addresses various expiring tax cuts and pending budgetary requirements, together commonly referred to as the "fiscal cliff." This Client Alert addresses several of the provisions of the Bill that are relevant to ongoing and future projects in the renewable energy space.

New tax break strategy for green energy

If you can't beat Big Oil, join 'em. That's part of a pragmatic new green energy strategy that seeks tax breaks for renewable power that were once limited to fossil fuels and biofuels.

Energy experts view the effort as a realistic approach to Congress' partisan gridlock. Demands to kill all tax subsidies for oil, gas and coal are out. Attempts to extend those subsidies throughout the entire energy industry are in.

Iowa new state tax credit policy makes solar a better investment

There is, after all, something new under the sun -- a tax credit that energy companies and lawmakers say makes installing solar energy systems on homes and businesses an affordable investment.

"A lot of people have been looking at solar energy systems and now, with the state tax credits, they're starting to move forward," Brad Duggan, energy efficiency project manager at Van Meter Inc. in Cedar Rapids said Tuesday. "It makes solar ripe for the residential use. I think it will push the market."