|Policy Type:||Research, Development and Deployment (RD&D), Economic Instruments>Fiscal/financial incentives>Tax relief, Economic Instruments>Fiscal/financial incentives>Grants and subsidies|
|Policy Target:||Wind, Bioenergy, Geothermal, Hydropower, Solar|
|Agency:||US Department of Agriculture|
|Legal References:||Public Law 110-234, 122 Stat. 923, enacted May 22, 2008, H.R. 2419, also known as the 2008 U.S. Farm Bill. Vetoed by President Bush; overridden by Congress.|
The Conservation, and Energy Act of 2008 governs the majority of Federal agriculture and related programmes for the next 5 years, including rural energy efficiency initiatives, and initiatives to encourage the production and use of agricultural and renewable energy sources. The Act provided for the continuation of many agricultural, biomass, and bioenergy programmes through fiscal year 2012. It extended the alcohol fuels credit to cellulosic biofuel (Sec. 15321), established the Biomass Research and Development Initiative to award grants and financial assistance for the research of biofuels and biobased products (Sec. 9001), and extended the Conservation Reserve Program and the Wetlands Reserve Program through the 2012 fiscal year (Secs. 2101, 2203). For energy efficiency and renewable energy programmes, the Act clarifies that loans can be made for energy efficiency purposes and redefines eligible renewable energy sources, including wind, hydropower, solar and geothrmal. It allows for various loans for renewable energy generation, to cooperatives and for projects that resell electricity both to rural and non-rural residents. The 2008 Act also mandates a study on electric power generation needs of rural areas, looking at rural electric cooperatives issues, financing issues, impact of electricity costs on consumers and local economic development.
|This record supersedes:||Farm Security and Rural Investment Act of 2002 (Public Law 107-171)|
Last modified: Wed, 14 May 2014 15:49:42 CEST