The Food and Energy Security Act of 2007 passed by the Senate last week includes increased funding for alternative energy sources.
“I’m particularly excited about the energy title,” said Senator Saxby Chambliss (R-GA), ranking Republican on the Senate Ag Committee. “The energy title gives farmers in my part of the country an opportunity to participate in alternative energy, ethanol and biodiesel, like we’ve never had before.”
The energy title provides investments in farm-based energy by creating initiatives with financial incentives to help farmers transition into biomass crops, and supports the construction of biorefineries from cellulose ethanol with a loan guarantee program that will provide up to 80 percent of total project cost with a loan cap of $250 million. The bill expands markets for biobased products, and invests in farm-based energy R&D, and in helping farmers, ranchers and rural small businesses move to renewable energy and energy efficiency.