How the Bailout Benefits the Environment

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.


Everyone knows the $700 billion bailout package is a boon for Wall Street. But it turns out green consumers stand to benefit too. According to Fortune and the Environmental News Network, the legislation includes a number of perks for the eco-friendly, including:

—A 30 percent tax credit for homeowners who install solar panels after December 31, 2008.

—A $1,000-per-kilowatt tax credit for homeowners who install wind power, with a cap of $4,000.

—Tax credits of $3,000 or more for the purchase of fuel-efficient, plug-in hybrid vehicles.

—Incentives to grow renewable fuels such as biodiesel and renewable diesel at home.

The bill also supports big businesses that go green. A 30 percent solar investment tax credit has been extended to 2016, and utility companies including PG&E and Southern California Edison can now claim this credit for large-scale solar power projects.

—Nikki Gloudeman

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you'll agree is worth supporting.

payment methods

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you’ll agree is worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate