Solar Industry Hopes for Tax Credit Extension « The Washington Independent
Solar experts are crossing their fingers as the House mulls over extending the investment tax credit for renewable energy. As Mike reports today, the Senate voted last week to adopt the Cantwell-Ensign amendment, which would extend the credit by six years.
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.
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 the potential of solar. Morse says that concentrating solar power technologies will become competitive with fossil fuels very soon, with the help of the credits.
The Solar Energy Industry Association, 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 here.