Proposed tax break hopes to encourage green power usage

subscribe

Oklahomans who choose alternative energy sources to power their vehicles or to heat and cool their homes or businesses may be eligible for tax credits if two measures passed by a House committee become law.

Even though the state is facing a $900 million budget hole in the upcoming fiscal year, it's important for Oklahoma to offer tax credits to consider alternative fuel sources in the state, House Speaker Chris Benge said.

The two measures are part of Benge's effort to develop an energy plan for the state to lessen dependence on foreign oil, which could be used as a model for a national energy plan. Both go to the full House after winning passage by the House Appropriations and Budget Committee.

House Bill 1948 would provide a 5 percent tax credit for residents and businesses who would buy a geothermal heat pump system. House Bill 1949 is intended to double the number of publicly available compressed natural gas fueling stations and give Oklahomans tax credits to help them make a transition to alternative fuel vehicles.

Benge, R-Tulsa, said other energy-related measures to be taken up this session deal with solar, nuclear and wind power.

It's estimated HB 1948 would cost the state about $850,000 a year while no estimate has determined yet how much HB 1949 would cost, Benge said.

Benge authored HB 1949 last summer when gasoline prices were about $4 a gallon in the state. Gasoline prices have dropped more than half since then, but Benge said it's still important for Oklahoma to push an energy plan.

"Once the economy picks back up, we're expecting the gasoline prices to go up again because that demand's going to be there," he said.

Related News

Maritime Link sends first electricity between Newfoundland, Nova Scotia

HALIFAX - For the first time, electricity has been sent between Newfoundland and Nova Scotia through the new Maritime Link.

The 500-megawatt transmission line — which connects Newfoundland to the North American energy grid for the first time — was tested Friday.

"This changes not only the energy options for Newfoundland and Labrador but also for Nova Scotia and Atlantic Canada," said Rick Janega, the CEO of Emera Newfoundland and Labrador, which owns the link.

"It's an historic event in our eyes, one that transforms the electricity system in our region forever."

 

'On time and on budget'

It will eventually carry power from the Muskrat Falls hydro…

READ MORE

Three New Solar Electricity Facilities in Alberta Contracted At Lower Cost than Natural Gas

READ MORE

holiday scam warning

Ontario's five largest electricity providers join together to warn of holiday scams

READ MORE

superconductor

A tenth of all electricity is lost in the grid - superconducting cables can help

READ MORE

china three gorges dam

Shell says electricity to meet 60 percent of China's energy use by 2060

READ MORE