California’s new Renewable Auction Mechanism (RAM) represents an important new move for the state into a feed-in tariff model for solar, wind and other renewable power — but with some critical twists. What are the advantages, and the potential drawbacks, of this reverse auction FiT model?
So now that the Senate has finally approved the extension of the renewable energy tax credits, exactly how much money have we been fretting over for the last year? Of the $148.6 billion that the the entire bill is estimated to cost, approximately $18 billion is being put into renewable energy. Meanwhile, the Treasury is seeking $700 billion to bail out our failing financial institutions.
The investment tax credit will cost taxpayers a mere $1.942 billion over 10 years, and the production tax credit costs $5.8 billion over the same time. Carbon capture and sequestration will get $1.424 billion more and a carbon capture credit incentive system will get $1.119 billion, according to the Senate Finance Committee.
The oil and gas industry is partly footing the bill for the credits. The legislation rolls back tax breaks on domestic production and tightens taxes on income made overseas. While not happy about losing their tax breaks, the oil industry should be pleased that Democrats have thrown in the towel on trying to renew the ban on offshore drilling.
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I got a chance to hang out with Nokia’s chief strategist and chief technology officer Tero Ojanperä before the start of our fire side chat at the Always On Conference in Palo Alto. He pointed out that Nokia was having tremendous success with its N-Series phones, especially the N95 which was one of the top selling phones in UK for a few weeks, selling for around $750-a-pop.
[qi:053] Apparently, that wasn’t the only phone from the N-Series that is selling well, and along with strong demand of E-Series (more corporate focused high-end mobile devices), Nokia managed to post a surprisingly strong financials for the second quarter ending July 31, 2007.
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