Kerry Introduces Clean Energy Technology Legislation

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Sen. John Kerry, D-Mass., has introduced the Clean Energy Technology Leadership Act of 2010, which will provide tax incentives for clean energy manufacturing, renewable energy and conservation.

‘While we continue the fight to bring comprehensive energy legislation to the floor of the United States Senate, it's essential that we take action to start moving in the right direction,’ says Kerry. ‘Providing incentives for clean energy production will drive our economy forward and take us one step closer to reducing our carbon emissions and ending our dependence on foreign oil.’

The Clean Energy Technology Leadership Act of 2010 proposes to do the following:

-provide additional funding for the advanced energy manufacturing credit and uncap the credit for solar energy property, fuel-cell power plans, and advanced energy-storage systems, including batteries for advanced vehicles;

– provide an additional $3.5 billion for clean renewable energy bonds; and

– extend the research and development tax credit retroactively for 2010 and through 2012 and provide an additional 10% credit for qualified advanced energy research expenditures.

SOURCE: Office of Sen. John Kerry

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