Extension Of The Renewable Energy Tax Credit Proposed
By Nick April 15, 2008
After officials from the renewable energy industry tried everything to extend an important investment tax credit which is set to expire at the end of this year, two senators decided to help. John Ensign (R-Nev.) and Mary Cantwell (D-Wash.) introduced a bill to extend the credit and offer incentives for measures regarding energy efficiency.
The Clean Energy Tax Stimulus Act of 2008 is proposing an 8 year-extension for the investment tax credit for businesses. According to it, consumers would have the current 30 percent tax credit on renewable energy projects extended for another year, along with removing the $2,000 cap.
Representatives of the Solar Energy Industries Association released a statement applauding the move of the two senators. If this act will be approved, it would encourage more entrepreneurs to invest in producing energy from sources that don’t affect Earth’s natural environment.
Topics: Eco News |
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