No more leaking oil well in the Gulf, but will it last? Oregon cuts solar tax credit, and President Obama visited a Volt battery plant.
BP has successfully installed a new oil containment cap but teams are still waiting to see if the cap will hold. Retired Coast Guard admiral Thad Allen has reported that the pressure was up to 6,700 pounds per square inch in the well, which is good because it means that the oil isn’t leaking anywhere else. But the pressure has yet to reach an optimal level of 7,500 pounds per square inch. If the cap holds through the weekend, then all signs will point to have the leaking well capped.
In an effort to save money for the state, the Oregon Energy Department has lowered the tax credit for residential solar power installations What would’ve cost a homeowner who wanted to install a 2,000-watt solar panel system about $650 after incentives will now cost about $3,300. The new rule change does not apply to commercial installations.
And finally, this week President Barack Obama was able visit a battery plant in Holland Michigan to check on workers that are manufacturing batteries for the Chevrolet Volt electric vehicle. Some of the American Recovery Act has been invested in battery manufacturers with hopes of lowering the overall cost of manufacturing this next generation technology. The Volt has a reported range of about 340 miles and is powered with electricity at all times. The new model will be first be sold in California, Michigan and Washington DC later this year.
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