Grants, tax breaks target energy-saving technologies
By Staff -- Industrial Distribution, 3/1/1998
Washington, D.C.--To help American industry achieve goals for cutting greenhouse gas emissions, President Clinton's fiscal 1999 budget includes an array of tax credits and research grants. The proposals, totaling $6.3 billion over five years, include:* 10 percent investment tax credit for highly efficient combined heat and power systems that have depreciation recovery every 15 years or more. Credit totals $942 million.
* 10 percent tax credit to replace circuitbreaker equipment that uses sulfur hexaflouride. Credit totals $36 million.
* 10 percent tax credit for installing qualified recycling equipment to recover certain perflourocompound and hydroflurocompound gases used in semiconductor production. Credit totals $26 million.
* $19 million competitive grant for industrial production technologies that lead to major cost-effective reductions in emissions. Expected to support 40 new technologies.
* Increase of $4.8 million to Motor Challenge program for high-tech controls and other systems that cut electric use as much as half in systems running pumps, fans, chillers and other equipment.
* Increase of $2.8 million to develop advanced technologies in bulk chemical production, which can allow industries to substitute clean bio-chemical production processes that imitate processes of living cells.
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