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US DOE Extends State Renewable Energy Incentive by 20 Years by Staff Platts, August 14, 2006

Washington -- The US Department of Energy Monday extended by 20 years a program that provides state and municipal utilities with a financial incentive for renewable energy production.

The Renewable Energy Production Incentives program was established in the 1992 Energy Policy Act for 10 years, ending in 2003. The Energy Policy Act of 2005 reauthorized the program until 2026.

In a Federal Register notice, DOE said it made no substantive changes in a proposal it made in June to meet the latest statutory changes. The incentive -- currently calculated at 1.8 cents/kWh--is available for projects started between 2004 and 2016.

Since the program began 1n 1994, DOE has paid incentives for projects during their first 10 years of operation.

The program paid $4.9 million to projects last year, with Richland, Washington-based Energy Northwest collecting $2.3 million.

Consistent with the 2005 law, the amended rule adds Indian tribal governments and Native corporations to the list of eligible participants in the program, as well as includes ocean thermal energy to the list of qualifying technologies.

Among other changes, DOE adopted a new formula for allocating funds to projects when Congress does not -provide enough money to cover them entirely.