Gov. Tim Kaine took another step toward moving Virginia in the direction of a 21st century economy.
“Creating green jobs and a renewable energy sector of the Virginia economy is one way we can create opportunity from our current economic challenges,” said Kaine, announcing his Green Virginia legislative package.
The package includes a bill that provides $2 million to expand the incentive grant available to solar photovoltaic manufacturers to include manufacturing of other low- and no-carbon energy sources, and a second bill that modifies the existing financial support from the state given to biofuel producers to provide a 10-cents-per-gallon incentive for new biofuels produced from sources also not used for food and a 7.5-cents-per-gallon incentive for fuels produced from sources that are used for food.
Also included in the Green Virginia package are new renewable energy system income-tax credits that will be available to individuals and corporations installing solar photovoltaic, solar thermal and small wind systems at varying amounts basd on the size of the systems installed and a renewabl energy equipment sales tax exemption that exempts solar photovoltaic and thermal systems as well as small wind systems from payment of sales tax.
– Staff Report
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