Renewable Energy and Energy conservation Tax Act of 2007

Floor Speech

RENEWABLE ENERGY AND ENERGY CONSERVATION TAX ACT OF 2007 -- (House of Representatives - August 04, 2007)

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Mr. THOMPSON of California. Mr. Speaker, my district--California's First Congressional District--provides ample evidence of the importance of renewable energy. My district is home to The Geysers, the largest complex of geothermal power plants in the world--which can generate enough energy to run over 750,000 homes. My district is also home to California's best wine country and wineries that use solar systems to generate all of their electricity.

This legislation extends and improves Federal incentives for renewable energy production so that States across America can follow California's lead.

We extend the tax credit for the production of biomass, geothermal, wind, and many other types of renewable energy. We extend the solar investment tax credit for 8 years providing long-term stability to that industry. We expand existing and create new incentives for taxpayers to make their homes and their businesses more energy efficient. And we make an investment in technology known as ``smart meters''--tools that will allow consumers to better manage their electricity usage during peak hours.

I have some concerns with the language in this section that refers to net metering, but I am confident that we can use the conference process to clarify these specific provisions.

Mr. Speaker, this legislation makes a critical investment renewable energy, and it does so without increasing the Federal deficit by a dime.

The new Democratic Leadership has made a strong commitment to fiscal responsibility and this legislation meets the rigorous Pay-As-You-Go requirements of the 110th Congress.

I am proud of this investment in alternative energy and I urge an aye vote on this legislation.

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