US Senate gives renewable energy boost in stimulus bill

The Senate on Tuesday passed its $838bn version of the Obama administration’s economic recovery package, including at least $7bn in loan guarantees for renewable energy.

It also includes a 30 percent tax break for wind and solar energy investments.

Just three Republican senators joined 58 majority Democrats to pass the bill, with 37 Republicans voting against it.

Both houses of Congress now will negotiate a compromise on legislation that President Barack Obama says he wants to sign into law this weekend. The House version of the bill costs $819bn and includes $6bn for renewable energy..

Both versions of the bill include $4.3bn in tax breaks for residential energy-efficient improvements including the purchase of more efficient furnaces, heat pumps and Log in to read complete article.

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