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Minnesota Sen. Amy Klobuchar met with Minnesota Power officials in Duluth Thursday to talk about how the federal stimulus package can help renewable energy efforts in the state.
Minnesota is in line to get $189 million for alternative energy development and weatherization programs.
"I know you guys thought I was going to come with a $100 billion check, but not quite," Klobuchar joked.
She didn't come with any cash, but instead the senator described how a good portion of the stimulus will be paid out through tax credits for companies that invest in renewable energy.
"It has direct money for investments in energy, weatherization and conservation," Klobuchar said. "But it also has tax incentives so investors will feel more stable about coming in and investing and that is what is exciting for our state."
It is particularly exciting for Minnesota Power, a company that has invested in creating energy through wind, solar, water and wood.
"I think there are a lot of opportunities there," said David McMillan, senior vice president of Minnesota Power.
McMillan said tax incentives will help boost production. "The most important ones to stimulate spending on our part is tax law changes with production tax credits," he said.
Who will get what of Minnesota's energy money isn't known just yet. Dollars will be dispersed through the state legislature and federal grants.
One measure the stimulus bill didn't include which Sen. Klobuchar pushed for is a renewable energy standard. Minnesota has one that requires electric companies have 25 percent of their energy come from renewable sources by 2025.
Klobuchar plans to introduce a bill this year for a nation-wide standard, likely not as strict as Minnesota's, which Pres. Barack Obama has said he would support.
To read about the efforts for renewable energy in the stimulus bill, click here.
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