Gov. Jon Huntsman, R-Utah, ceremonially signed two renewable energy bills, H.B.430 and S.B.76, at Raser Technologies Inc.'s Hatch geothermal power plant in Utah.
S.B.76 establishes the Utah Generated Renewable Energy Electricity Network Authority (UGREEN Authority), which will provide financial incentives and state support to upgrade the electrical grid, making it possible for Utah's abundant supply of geothermal, wind, solar and other renewable energy resources to be developed to help meet the nation's energy needs.
UGREEN Authority is also designed to help renewable energy projects gain appropriate transmission access to the markets where power is needed.
H.B.430 provides major tax incentives to renewable projects, including a refundable certificate up to the amount of the economic benefit realized by the state from new state revenues.
SOURCE: Raser Technologies Inc.