Hagel Original Co-Sponsor of Bill to Expand Renewable Energy Projects

Hagel Original Co-Sponsor of Bill to Expand Renewable Energy Projects

U.S. Senator Chuck Hagel (R-NE) joined a bipartisan group of senators today in introducing the "Rural Energy for America Act of 2006." The legislation would expand the availability of grants and loans under Section 9006 of the 2002 Farm Bill to farmers, ranchers, rural businesses and school districts for assistance with purchasing renewable energy systems and to make energy efficiency improvements.

"Investment in renewable energy and energy related projects will be critical to address our nation's growing energy needs. This legislation provides funding for many Nebraskans who are developing renewable energy projects or updating existing energy operations. The expanded use of renewable energy will create a more diverse domestic energy portfolio while providing important markets for Nebraska agriculture producers," Hagel said.

This legislation would do the following:
• set aside 20% for program funding for state and regional organizations to establish rebate programs for renewable energy projects;
• add rural school districts to the list of those eligible for funding;
• ensure that projects that receive grants receive the full renewable energy production tax credit; and
• gradually increase funding for the program from $115 million over five years to $250 million over five years.

http://hagel.senate.gov/index.cfm?FuseAction=PressReleases.Detail&PressRelease_id=219470&Month=9&Year=2006