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While the lifting of the crude oil ban received the lion’s share of the attention in the budget compromise, the bill also renews the federal production tax credit, or PTC, that benefits the growth of wind farms and the investment tax credit, or ITC, that discounts the expansion of solar power. The tax credits were expiring, but still would have funded pending projects through 2016.
Texas accounted for more than one-third of the new wind and natural gas-fired power added to the nation’s electric grid this year through September.
While Texas currently has very little solar power generation, there are several projects currently in development.
The new business unit is heavily focused on wind power and turbine manufacturing.
San Francisco-based Pattern Energy, which has its control center and offices in Houston, represents one of the more active players in the Texas wind power surge that has made the Lone Star state the nation’s leader in wind generation.
While the terms are not being disclosed, BlackRock also recently bought a 50 percent stake in the new, 200-megawatt Hereford Wind Project, which is southwest of Amarillo.
Utility companies in Texas and beyond must adjust for the future or fade into oblivion, said Cris Eugster, chief generation and strategy officer for San Antonio’s integrated utility company, called CPS Energy.
Innovative systems of collecting energy from the environment are pushing the boundaries of the current renewable energy landscape, fueling the growth of the market and overall acceptance of green energy as a form of energy production. From pocket-sized wind turbines to solar-paneled bike paths, the green energy movement is reaching new heights of innovative technologies […]
Our goals are just as ambitious, if not more so, than those set by developed countries,” President Dilma Rousseff said as she announced the targets at the U.N. in New York.
Oil producers and their allies on Capitol Hill are mulling an array of strategies for getting legislation authorizing widespread crude exports onto the president’s desk.