US bailout bill heralds eight year tax credit extension for solar energy
It was good news for the solar energy industry as it was given an eight year investment tax credit (ITC) extension in the financial bailout bill passed by US House of Representatives on 3rd October.
According to an analyst reaction report examining the impact of the bill on the clean energy sector compiled by research provider New Energy Finance, the expansion of utilities ITC “has the potential to shake up thoroughly the commercial PV and STEG markets.”
Geothermal and wind also saw significant production tax credit (PTC) extensions. Geothermal was granted a 2 year extension of PCT and wind was given a one year extension. Biodiesel saw a one year extension for current $1/gallon PTC and the
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