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Senate Passes Energy Tax Bill Offering Solar Industry a Boost
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by Erik Larson | September 23, 2008 at 08:48 pm
110 views | 7 Recommendations | 3 comments
The Senate has voted to extend the solar and wind tax credits set to expire at the end of this year. The pending expiration and lack of consensus in Congress on renewal has had the renewable energy industry in limbo, uncertain as to how to plan future investment, research and development.
Sept. 23 (Bloomberg) -- The Senate passed a $17 billion energy tax measure that gives an unprecedented boost to the solar-power industry and extends tax credits for wind as well as for refineries that process heavy oil.
The energy measure, passed by a 93-2 vote margin, is part of a tax bill pegged at more than $100 billion. The energy portion of the bill failed eight times in the Senate and has faced opposition in the House because portions of the legislation haven't been paid for with offsetting revenue.
``It is the most significant legislation ever introduced in Congress for solar,'' said Rhone Resch, president of the Solar Energy Industries Association. ``It will provide a stable market for businesses to grow over the next 10 years.''
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Most RecentMost Recommended Comments (3)
at 01:22 on September 24th, 2008
Erik Larson, I like this story. It's good stuff.Senate passes energy tax bill soalr industry US. Good news for Solarlife
at 01:41 on September 24th, 2008
Erik Larson, I like this story. It's good stuff.
at 12:38 on September 24th, 2008
i agree, guys, i'm in favor of sensible investment in sensible renewable energy, and solar technology holds enormous potential. We already subsidize the coal, nuclear and oil industries, and they are wreaking havoc on the environment, society and human beings.