EERE Network News
June 07, 2006
News and Events
DOE's State Energy Program will award $34.6 million to improve energy efficiency in 24 states, five territories, and the District of Columbia.
A new Iowa law creates tax credits that encourage large retail dealers to use ethanol and biodiesel for 25 percent of their sales by volume by 2021. Meanwhile, restrictions on selling E85 have been lifted in Arizona and New Mexico, while New York is promoting more biofuels use in cars and homes.
Efforts are underway to build new wood-fired power plants in California, Minnesota, New Hampshire, and New York. Several of the projects are converting fossil-fueled power plants to burn wood, and one project will include tree farms to will grow a dedicated energy crop for two biomass plants.
After upgrading one turbine, the J.C. Boyle hydropower facility is producing 2.6 percent more electricity, which qualifies for a federal tax credit. The new tax credit is meant to encourage efficient use of existing hydropower dams. PPL Corp. may soon earn a credit from a similar project in Maine.
The U.S. Internal Revenue Service has certified Honda's three hybrid vehicles and the 2007 models of two Toyota hybrids as eligible for a federal tax credit. Meanwhile, South Carolina has passed a bill that will provide a state tax credit equal to 20 percent of the federal tax credit.
Owners or leaseholders of commercial buildings can qualify for a federal tax deduction by making their buildings more energy efficient. To earn the greatest deduction, the building's energy use must be cut in half, but a smaller deduction is available if energy use is reduced by one sixth.
The forecast calls for an active tropical storm season in the Atlantic basin this year, and DOE's Energy Information Administration (EIA) expects those storms to reduce oil and gas production in the Gulf of Mexico. The magnitude of the impact depends on speed and path of the storms, of course.