www.pmmag.com/articles/92058-solar-itc-extension-within-reach
Solar ITC Extension Within Reach
September 19, 2008
Lawmakers continue to drive toward extending the solar
investment tax credit (ITC). Recently, U.S. Senate Democratic and Republican
leaders ― including Sens. Max Baucus (D-MT), Chuck
Grassley (R-IA), Harry Reid (D-NV), John
Ensign (R-NV), Maria Cantwell (D-WA), and Mitch
McConnell (R-KY) ― have taken wide strides toward pushing legislation
forward.
The agreement has been hashed out over the past week; with luck it will hit the Senate floor for a vote by the end of this week. It should include an eight-year extension of the commercial ITC, a utility exemption repeal, a two-year extension of the residential ITC and other measures.
Observers have commented that the bipartisan nature of this agreement decreases the likelihood that the legislation will be vetoed by the president. Some estimate that the passing of the ITC could create more than 400,000 new U.S. jobs in the solar industry alone over the next eight years.
The agreement has been hashed out over the past week; with luck it will hit the Senate floor for a vote by the end of this week. It should include an eight-year extension of the commercial ITC, a utility exemption repeal, a two-year extension of the residential ITC and other measures.
Observers have commented that the bipartisan nature of this agreement decreases the likelihood that the legislation will be vetoed by the president. Some estimate that the passing of the ITC could create more than 400,000 new U.S. jobs in the solar industry alone over the next eight years.
