Renewable energy and energy efficiency will receive increased federal support, according to President George W. Bush’s recently unveiled budget “blueprint.” The plan proposes increasing the Weatherization Assistance Program funding by $1.4 billion over ten years, as well as offering tax credits for the installation of rooftop solar equipment and an extension of the tax credits for fuel produced from renewable sources.
The blueprint also encourages new oil and gas production on federal lands, and using federal income from that to support increased efforts to develop solar and renewable energy. The administration’s legislative proposals will include opening a small part of the Arctic National Wildlife Refuge to oil and gas leasing and production in an environmentally responsible manner. This process will generate an estimated $1.2 billion in bidding bonuses for the federal government from the winning bidders, assumed to become available in 2004. The administration proposes to use these bonuses to fund meritorious research and development projects on solar power, wind energy, biomass power and fuels, geothermal energy, and other alternative energy technologies.
To see the complete budget blueprint, visit the White House online.
