David Kirkpatrick

September 24, 2008

Senate renews solar tax credit for eight years

Filed under: Politics, Science, Technology — Tags: , , , — David Kirkpatrick @ 12:54 pm

Good news for solar power and renewable energy enthusiasts.

From the link:

After nearly a year of squabbling, the U.S. Senate voted Tuesday to extend solar tax credits for the next eight years and also remove the $2,000 cap on residential projects.

What with all the political bickering, I was betting this wouldn’t ever get done before the November elections. But the hired help in Washington provided a pleasant surprise for a change. The bill, which includes an allowance for utilities to make use of the commercial credit, now goes to the House of Representatives for approval before everyone clears out of town next week. The current tax credit was set to expire at year’s end.

Doubtless there will be some ready to dun the agreement as yet another handout to an interest group. On the surface, that’s true. But after the government’s recent series of bailouts including–drum roll, please–Bear Stearns, Freddie Mac, Fannie Mae, AIG, and the $700 billion or so the Treasury Department wants to buy illiquid mortgage-linked securities–this one should mollify the critics, according to Barry Cinnamon, CEO of Akeena Solar.

I would love in install solar on my home. I have a large expanse that gets a ton of sun year round. Decisions like this make the concept that much more feasible for me to consider.

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