The tax-extension to continue includes 12 items related to renewable and clean energies besides now recognizing algae as a qualified feedstock.
Bill passed by the US House of Representatives following a similar vote by the Senate, extends credits for energy-efficient existing homes and alternative fuel vehicle refueling properties to 31 December 2013.
Incentives for biodiesel and renewable diesel are also extended to 31 December 2013 while credits for municipal solid waste, hydro, and biomass facilities, production tax credits for wind facilities are extended to 1 January 2014.
Special allowance for cellulosic bio-fuel plant properties and alternative fuels excise tax credits are extended to 1 January 2014.
The tax-extensions are expected to provide further boost to the clean energy sector in the US over the course of the year with profitability of projects expected to improve.
