The U.S. Senate Finance Committee approved a bill Thursday that would extend tax credits for hydroelectric power.
The Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE), includes a two-year extension of production and investment tax credits for renewable energy, including hydropower.
Currently the law states that “qualified energy resources” including some hydroelectric and marine energy receive a 1.1 cent per kWh through the end of 2013.
The National Hydropower Association said the tax credit encouraged dozens of hydropower project improvements.
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