Solar Industry Hopes for Tax Credit Extension

<p>Solar experts are crossing their fingers as the House mulls over extending the investment tax credit for renewable energy. As <a id="mpof" href="../../../view/senate-extends" title="Mike reports today">Mike reports today</a>, the Senate voted last week to adopt the Cantwell-Ensign amendment, which would extend the credit by six years.<br id="t118" />

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But as Mike points out, there’s a chance the amendment, which was inserted in a larger mortgage crisis bill, won’t make it through the House. And it’s no wonder that the amendment inspires reservations. The Senate amendment is unfunded and might cause a delay in the larger housing package. <br id="zir1" />

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According to those in the green energy industry, the extension could mean a bright future for solar power. Fred Morse, a Washington veteran of solar energy, was a source on our story on <a id="p:0g" href="../../../view/harnessing-the-sun" title="the potential of solar">the potential of solar</a>. Morse says that concentrating solar power technologies will become competitive with fossil fuels very soon, with the help of the credits. <br id="hh7f" />

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The <a id="sum1" href="http://www.seia.org/" title="Solar Energy Industry Association">Solar Energy Industry Association</a>, the industry’s leading trade association, agrees. The trade group published a report claiming 39,400 jobs could be at risk if the amendment fails. That report is available <a id="yybp" href="http://www.seia.org/Navigant_Tax_Credit_Impact.pdf" title="here">here</a>. </p>