Tax incentives are one alternative for stimulating expansion, and can include production tax credits, investment tax credits, sales tax reductions and property tax reductions. Another option is to develop production incentives, encouraging producers to expand their renewable energy resources by providing additional payments above the market price. Several states are also evaluating the potential of a renewable portfolio standard, requiring a certain percentage of electricity production to originate from renewable energy resources. Technological advancements could also boost renewable energy use. One example is the fuel cell.
Fuel cells replace traditional power sources in cars or buildings, such as engines and furnaces.
The U.S. Department of Energy projects that if 10 percent of automobiles nationwide were powered by fuel cells, it would cut oil imports by 800,000 barrels a day. The objective of this Renewable Energy Resource Guide is to present a comprehensive overview of what is being accomplished. The guide also provides in-depth descriptions of the state s more significant renewable energy resources, along with their past growth, current status, and future opportunities in Iowa. Crop Year - Based on Production . U.S. Department of Agriculture-National Agricultural Statistics.