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Energy:
energy production; tax credit
Our Position: support
Bill Number: HB2493
Sponsor: Mason, Burton Cahill, Flake, et al.
Legislative Session: 2007 Legislative Session
This bill provides a new individual and corporate income tax credit through December 31, 2011, for a taxpayer who produces and sells electricity from Combined Heat and Power (CHP). The credit is equal to one and a half cents multiplied by the total kilowatt hours of electricity or one and one tenths cents multiplied by the total horsepower hours of power. It includes an overall cap of $2 million dollars and a limit of $100,000 on the maximum tax incentive for any single installation. The tax credit for a 1 megawatt (MW) project would amount to about $100,000, and it is likely that most projects in Arizona would be less than 1 MW and would include facilities like hospitals, hotels, schools, and industrial users.
Status
The bill has already passed out of the Water and Agriculture Committee and Ways and Means Committee. There was no opposition to it.
Action Needed
To contact House members go to http://www.azleg.gov/memberRoster.asp?Body=H. You can just click on their names to send an email or give them a call at the number listed next to their names. Thanks!
More information
You can read the bill text and check on its more detailed status at http://www.azleg.state.az.us/DocumentsForBill.asp?Bill_Number=HB2493
Contact
Sandy Bahr at (602) 253-8633 or sandy.bahr@sierraclub.org
Background
The key to a more sustainable energy future is for us to become as efficient as possible and also invest heavily in renewable energy. Combined Heat and Power (CHP) is a major efficiency measure and is significantly more efficient than generating electricity and thermal energy separately. Some CHP systems are capable of an overall efficiency of over 80 percent. This is double that for conventional systems. Rather than just have the thermal energy wasted, it is recovered and can be used for space heating, hot water, steam, air conditioning, water cooling, product drying, or other thermal energy needs.
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