Iowa Solar Tax Tripling Approved by State Senate
A new solar tax legislation in Iowa was approved by the Ways and Means Committee that would triple the annual solar tax credit from $1.5 million to $4.5 million. The proposed bill will increase homeowner solar tax credit from $3,000 to $5,000. Business owners will also see an increase from $15,000 to $20,000. According to the Iowa Department of Revenue, $685,000 has already been awarded for solar tax credits this year. Iowa’s first solar tax credit was passed in 2012 and a revision was proposed last year, but only passed the Senate, not the House.
PG&E Expects Criminal Charges for 2010 Explosion
PG&E Corp. said it is expecting to face criminal charges for the 2010 explosion of one of its natural gas pipelines that claimed the lives of eight people in San Bruno, California. The U.S. Attorney’s Office is expected to accuse PG&E of violating federal regulations on record keeping and pipeline integrity management. The announcement underscores the rising scrutiny over the safety risks of aging pipelines running beneath U.S. cities. The potential charges come as federal investigators peruse whether leaking gas main operated by Consolidated Edison Inc. contributed to an explosion in New York City this month that also killed eight people.
Cargill Withdraws From Coal and European Power Markets Plans Sugar Venture
Cargill Inc., the agriculture and trading giant, will stop trading in European power and natural gas as well as global coal markets after oversupply and slowing demand dragged down prices. Cargill, one of the world’s largest privately owned companies, will maintain its oil, petrochemicals, steel, marine freight and North American gas and power businesses. Separately, Cargill and Copersucar SA, a Brazilian sugar and ethanol trader, agreed to combine their global sugar-trading activities, creating a joint venture that will source and trade sugar – a market in which prices also have fallen for three consecutive years.
First Solar Close to Agreements to Supply Remote Australian Mines
First Solar Inc., the largest solar panel maker in the U.S., is close to announcing agreements to supply its technology to remote mining projects in Australia to help companies save on fuel costs. First Solar expects to develop as much as 200 MW of capacity for the mining industry over the next three years and also has plans to combine solar power with diesel. The Arizona-based company is increasing efforts to install solar systems at industrial sites as utilities demand smaller projects, and is seeking deals in other regions including South America, Saudi Arabia and India.
Image courtesy by Stuart Miles/Freedigitalphotos.net