President Obama’s Stimulus Package Gives a Boost to Clean Energy

Among the incentives, the plan will allow developers of renewable-energy projects to swap tax credits for cash grants.

The renewable-energy sector got a lift from the economic stimulus package signed Tuesday, with a fix to a crucial tax issue that had stalled projects nationwide.

Solar and wind companies said it could take several months for the legislation to get portions of the industry moving again. But some players are already gearing up for growth.

SolarCity, a Foster City, Calif., company that’s one of the nation’s largest residential solar firms, will end a hiring freeze in place since December and begin seeking more installers immediately, said Chief Executive Lyndon Rive.

“We should be adding 16 or so crews over the next few months,” Rive said. “This is a great step toward resolving our challenges.”

The American Recovery and Reinvestment Act will invest nearly $79 billion in renewable energy, energy efficiency and green transportation, according to a final tally of the legislation by the nonprofit Environment California.

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Obama Signs Stimulus Packed With Clean Energy Provisions

President Barack Obama signed the $787 billion stimulus package today, and the clean energy industry - among the biggest winners - is celebrating.

The signing ceremony was heavily loaded with solar symbolism: Mr. Obama signed the bill after touring the Denver Museum of Nature and Science, which has solar panels on its roof. He was also introduced by Blake Jones, head of Namaste Solar Electric, a Colorado company that installed solar panels on the governor’s mansion there.

“It’s an investment that will double the amount of renewable energy produced over the next three years,” said Mr. Obama, who also promised that the bill would help “transform the way we use energy.”

The text of the bill is posted by the House Appropriations Committee here. This detailed summary is particularly helpful.

The provisions include:

* A large sum for energy efficiency, including $5 billion for low-income weatherization programs; over $6 billion in grants for state and local governments; and several billion to modernize federal buildings, with a particular emphasis on energy efficiency.

* $11 billion for “smart grid” investments.

* $3.4 billion for carbon capture and sequestration demonstration projects (otherwise known as “clean coal”).

* $2 billion for research into batteries for electric cars.

* $500 million to help workers train for “green jobs.”

* A three-year extension of the “production tax credit” for wind energy (as well as a tax credit extension for biomass, geothermal, landfill gas and some hydropower projects).

* The option, available to many developers, of turning their tax credits into direct cash, with the government underwriting 30 percent of a project’s cost.

Kate Galbraith
The New York Times

Executives Of The Year: SolarCity’s Rive Brothers Are Bright Lights Of Silicon Valley

FOSTER CITY - Siblings Lyndon and Pete Rive run their company SolarCity Corp. like coaches of a football team.

On offense, Lyndon’s areas of expertise - business development, finance, sales and marketing - are located downstairs at the company’s 28,000-square-foot Foster City headquarters. Upstairs, Pete operates the defense - heavy on the technology, operations, engineering and analytical components.

“Lyndon is more of the extrovert, and I’m more of the introvert,” Pete said.

The brothers, both under 40, have taken their opposite skill sets and split up responsibilities often held by one chief executive.

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Solar Energy Fuels Domestic Job Growth: A Blueprint for Job Creation and Economic Security

The following Solar Energy Industries Association (SEIA) solar policy report which is to be submitted to President-elect Obama and the 111th Congress was updated on December 11, 2008.

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Solar Energy Fuels Domestic Job Growth:
A Blueprint for Job Creation and Economic Security
(Updated December 11, 2008)

The current economic crisis requires the United States government to make strategic investments in industries that will improve our economy. At the same time, our nation has an opportunity to invest in industries that foster our energy independence, improve our security and reduce our greatest environmental risk - global warming. Increasing the use of solar energy will provide a clean, reliable and domestic source of energy while creating millions of new jobs. Solar is not only the cleanest technology, but solar produces more jobs per megawatt (MW) of installed capacity than any other source of energy. From electricians and roofers to manufacturing line workers and sales agents, an expanded solar energy sector will greatly benefit the U.S. economy with new jobs. However, the growth of solar energy will not happen quickly enough without the right federal policies to stimulate the market and remove fundamental barriers that prevent solar from competing in the electricity marketplace.

We call on President‐elect Obama and the Leadership of the 111th Congress, to make solar energy a fundamental part of our economic and energy policy. This includes establishing the goal of 12.5 percent of electricity generation to come from solar by 2020 and creating 1.5 million new jobs in the solar industry. To achieve this vision, President‐elect Obama and Congress must establish programs that rapidly deploy solar energy, remove market barriers, and educate the public on the benefits of solar energy.

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Industry Leaders Forecast Dramatic Growth in the U.S. Solar Market by 2016 with Extension of Credit

Federal Solar Tax Credits Extended for 8 Years, US Poised to Become Largest Solar Market in the World

WASHINGTON - Today, by a vote of 263 to 171, the U.S. House of Representatives passed historic legislation that extends the 30-percent federal investment tax credit for both residential and commercial solar installations for 8 years. This landmark legislation is part of H.R. 1424, the Emergency Economic Stabilization Act of 2008, designed to address the U.S. financial crisis. It is the most significant federal policy ever enacted for the solar industry. President Bush has vowed to sign the bill into law. The Senate passed the bill on Wednesday night.

“This bill is a major step in our long journey toward energy independence and ensures that solar energy will be a significant part of America’s energy future,” said SEIA president Rhone Resch. “This long-term extension of the solar tax credits will create a domestic solar industry with hundreds of thousands of jobs while providing clean, affordable, carbon-free energy to millions of American families, businesses, and communities.”

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