Well Being

Energy Related Details of Economic Stimulus Package

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I was reading the  Economic Stimulus Package Details to see what sort of “stimulus” will the energy sector will get.

Let me pick out a few.

Note: All figures are in millions of dollars ($mil)

Energy Related Items in Economic package

  1. Home Weatherization Grants to low and Middle-Income Families  $5,000
  2. Funding for Energy Star Program offering tax credits to consumer purchasing new, efficient appliances $300
  3. Advanced Batteries manufacturing grants     $2,000
  4. Energy efficiency grants to states and local governments     $6,300
  5. Funding for states and local governments to buy efficient alternative fuel buses and trucks     $300
  6. Research and development of renewable and efficient energy technology     $2,500
  7. Loan guarantees for standard renewables     $4,000
  8. Fossil energy research and development     $1,000
  9. Grants for industrial carbon capture and energy efficiency improvement projects     $1,520
  10. Grants for identifying sites to store carbon dioxide emissions     $50
  11. Grants for training and research on safe storage of carbon emission     $20
  12. Physics research including high-energy physics, nuclear physics and fusion energy sciences     $1,600
  13. High-risk research into energy sources and energy efficiency     $400

Most people would probably like #1 and #2 because these two have a direct benefit on consumers.  Now check out these generous Tax Cuts.

Energy Tax Cuts

  1. Extending by three years the placed-in-service date for renewable energy investments $13,143
  2. Investment credits in lieu of production credits for renewable energy purchases     $285
  3. Removal of cap on tax credits for purchase of small wind systems $604
  4. $1.6 billion extra allocation of clean energy bonds     $578
  5. $2.4 billion extra qualified energy conservation bonds     $803
  6. 30% cap on tax credit for energy efficiency purchases by homeowners, up to $1500 per residence     $2,034
  7. Credit for purchase of residential solar, geothermal, wind and fuel cells $268
  8. 50% tax credit for purchase of alternative refueling stations $54
  9. Tax credit for plug-in electric vehicle conversion $2,002
  10. Equalization of parking and transit tax-free employer benefits at $230 for 2009

It's nice to read the Economic Stimulus Package in Detail.   There's a few items for farming, health sector,  transportation, and tohers.