Trend: U. S. green companies will likely benefit greatly from the renewal energy tax credits in the renewable energy stimulus.
Nick Hodge at Wealth Daily says a few sectors have been declared early winners now that the $787 billion stimulus has been signed into law. Excerpts below.
Link: Renewable Energy Stimulus.
$104 billion is slated to come green's way... a full 13% of the stimulus package.
Here is where some of that money is going:
$4.5 billion to boost the energy efficiency of federal buildings
$6.3 billion for energy efficiency and conservation grants
$5 billion to weatherize old buildings
$2.5 billion for energy efficiency and renewable-energy research
$6 billion for new loan guarantees for wind and solar
$6 billion for cleaning up toxins on former military sites
$1.2 billion to fund the Environmental Protection Agency's environmental cleanup programs
The cleantech industry is about to enjoy a more equal share of the subsidies that have been afforded the oil and coal industries for years.
Leveraging the Stimulus for Profit
The two parts of this bill that will do the most to aid the cleantech industry are the extension of the production tax credit (PTC) and the newly created ability to claim an investment tax credit (ITC) or grant in lieu of the PTC.