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Governor Bush Unveils Hydrogen Energy Technologies Act and Break Ground on Florida'S First Hydrogen Energy Station

Publication Date:18-February-2005
Source:Florida Energy Office(U.S.A.)

~Financial incentives to diversify economy, attract jobs and promote energy independence~

ORLANDO — At the groundbreaking of Florida’s first hydrogen energy station, Governor Jeb Bush today unveiled his plan to further diversify the state’s economy by establishing Florida as a national leader in the development of hydrogen energy technologies. Joined by Senator Lee Constantine and Representative Adam Hasner, the Governor outlined a proposal for the Hydrogen Energy Technologies Act, which will spur investment and accelerate the commercialization of pollution-free energy and transportation technology in Florida.

“As the fuel of the future, hydrogen will diversify our energy portfolio and lessen the nation’s dependence on foreign oil,” said Governor Bush. “By establishing Florida as the center for this ‘next generation’ energy technology, we are encouraging new corporate investment, creating new jobs and protecting the state’s air quality.”

Earmarking $15 million in this year’s budget proposal to encourage investment, the Governor announced plans for the new legislation before breaking ground on the state’s first hydrogen energy station with Ford Motor Company Chairman and CEO Bill Ford and top officials from ChevronTexaco and Progress Energy. Florida will set aside $12.9 million to test and demonstrate the cutting-edge technology and provide $2.1 million in new tax incentives.

The Hydrogen Energy Technologies Act will:

Increase capital investment and job creation by reducing the costs of purchasing, manufacturing and developing hydrogen energy technologies. Florida companies will receive temporary corporate tax credits for expenditures and sales tax exemptions on related equipment purchases, making the technology more affordable and prompting increased sales to stimulate investment and job creation.

Expand private-public partnerships to accelerate the commercialization of hydrogen energy technologies and spur investment in Florida. Targeted matching grants will be used to attract corporate investment for select, high value demonstration projects to improve hydrogen and solar energy technologies and infrastructure.

Establish the nation’s first one-stop permitting standard for hydrogen fueling infrastructure. Creating a single, uniform permitting standard will reduce costs, ensure consistent safety codes across all jurisdictions and attract capital investment in Florida.

Enable Florida’s utilities to meet the growing demand for electricity and increase reliability while reducing air emissions. Financial incentives for hydrogen electricity generation and power storage will give utilities greater flexibility to provide emergency back-up power, reduce peak operating costs and protect air quality.

“Florida is making investments today to deliver environmental and economic benefits to our next generation,” said Department of Environmental Protection Secretary Colleen M. Castille. “Public and private partnerships will expand the commercial availability of hydrogen technology making this safe, clean and sustainable energy a reality rather than a concept.”

Just nineteen months ago, Governor Bush launched “H2 Florida,” a statewide initiative to grow the hydrogen technology industry, spur investment and economic opportunity and safeguard the nation’s natural resources. H2 Florida partners the state with industry, local governments and academia to accelerate hydrogen innovation and stimulate a consumer market for the newest hi-tech approach to cleaner, sustainable sources of energy.

Florida joins the White House in its commitment to “next generation” energy technology. President Bush is proposing a $1.7 billion, five-year investment to develop hydrogen-powered fuel cells, hydrogen infrastructure and advanced automotive technologies. Worldwide, energy companies, automakers and petroleum companies are investing more than $2 billion annually to expand the revolutionary industry.

The Governor was joined by Ford Motor Company Chairman and CEO Bill Ford, Senator Lee Constantine, Representative Adam Hasner, ChevronTexaco Technology Ventures President Gregory M. Vesey, Progress Energy Vice President-South Central Region Dale Oliver and Florida Department of Environmental Protection Secretary Colleen M. Castille.


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