State doles out $218 million in BETC funds

Renewable projects have snapped up $218 million of Oregon’s Business Energy Tax Credits.

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Renewable projects in Oregon will use at least $218 million of the $300 million in Business Energy Tax Credits established by the 2010 Legislative Special Session.

11 projects have already been certified, and a tiered system of applications will decide the rest of the allocation.

In total, Department of Energy has set aside BETC funds for approximately $83 million in solar electric projects, $51 million for wind projects, $35 million for biomass and $28 million for hydro projects…

“The numbers show that the renewable program is working and quality projects are moving forward,” said Mark Long, Oregon Department of Energy’s director in a release. Long will be replaced as director of the department later this month when Bob Repine takes over the job.

Read the whole story at Sustainable Business Oregon.

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