Green Energy Sector Gets Boost From Senate

Written by Ucilia Wang

The U.S. Senate on Tuesday approved about $18 billion of renewable-energy tax credits after repeated failed attempts to do so this year.

The 93-2 vote cleared a major hurdle for extending a set of tax credits for businesses and residents investing in renewable energy, from building and operating power plants to installing small wind turbines on residential properties.

Both the Senate and the House of Representatives have tried and failed numerous times this year to extend the tax incentives, which are set to expire at the end of 2008. The two houses have mainly disagreed about how to pay for the incentives. ...