Biomass benefits from bail out with tax incentives

Portland, ME, Oct. 8, 2008 — USA Biomass, an association of biopower companies, applauded the recent passage of federal legislation which extends through 2011 tax credits for the biopower industry as part of the $700 billion bail out bill. Biopower recycles wood chips, forest waste, orchard prunings, sugar cane and other organic materials into electricity.

According to Department of Energy (DOE) estimates, biomass-powered plants currently provide about 2 percent of the nation’s energy. The DOE projects that the potential for biomass could grow to 15 percent by 2020.

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