How the stimulus package will affect the power sector
The package contains more than $42 billion in energy-related investments from tax credits to homeowners to loan guarantees for renewable energy projects and direct government grants for makers of wind turbines and next-generation batteries.
There's a 30 percent tax credit of up to $1,500 for the purchase of a highly efficient residential air conditioners, heat pumps or furnaces. The credit also can be used by homeowners to replace leaky windows or put more insulation into the attic. About $300 million would go for rebates to get people to buy efficient appliances.
The package includes $20 billion aimed at "green" jobs to make wind turbines, solar panels and improve energy efficiency in schools and federal buildings. It includes $6 billion in loan guarantees for renewable energy projects as well as tax breaks or direct grants covering 30 percent of wind and solar energy investments. Another $5 billion is marked to help low-income homeowners make energy improvements.
About $11 billion goes to modernize and expand the nation's electric power grid and $2 billion to spur research into batteries for future electric cars.
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PORT WASHINGTON - Franklin Energy, a leading provider in energy efficiency and grid optimization solutions, announced today that they will implement Consumers Energy's Small Business Virtual Energy Coaching Service in response to the COVID-19 pandemic.
This Michigan-wide offering to natural gas, electric and combination small business customers provides a complimentary virtual energy-coaching service to help small businesses find ways to benefit from a reduction in their utility costs, both now during COVID-19 and into the future. To be eligible for the program, small businesses must have electric usage at or below 1,200,000 kWh annually and gas usage at or below 15,000…
