Expiring Tax Credits Imperil America’s Booming Biomass Industry

SolveClimate.com
by Stacy Feldman - Aug 25th, 2009

Power plants that burn wood and plant materials for electricity account for more than 50 percent of America's renewable energy. But that could change.

Federal tax credits that are keeping 100-plus "biomass" facilities afloat are set to expire at the end of 2009.

If the tax credits are not renewed, it will have "catastrophic consequences to our industry," said Bob Cleaves, president and CEO of the Biomass Power Association (BPS), during a news conference.

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