Creative Energies Blog

Federal incentives for renewables have been up and down for both solar and wind since the invention of renewable energy.  Currently, the investment tax credit is set to expire at the end of 2008.  This means that any system has to be installed and operational before the end of the calendar year to be able to claim the credit.

There has already been two attempts at extending these incentives this year, and a third go-round is in progress.  Today, the Senate adopted an amendment to the housing stimulus bill by a wide margin of 88-8.  In addition to extending the commercial and residential investment tax credits, the $2,000 cap for residential projects would be removed and there would no longer be an exclusion for utilities.

This bill would have a big impact on the already booming solar industry.  The next step is for the House and Senate to agree on a final version to send to the President.

Visit the SEIA website for more breaking news.  For more information regarding current  incentives, visit WY and federal incentives.