Solar Tax Credit Set to Renew!

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We're dreaming of a Green Christmas!

The U.S. solar and wind power industries will mark the holidays with heightened spirits after receiving multiyear extensions of their coveted renewable energy tax credits from a divided Congress.

On Friday, the House and Senate agreed by significant margins to grant extensions to the 30 percent investment tax credit (ITC) for solar energy and the 2.3-cent-per-kilowatt-hour production tax credit (PTC) for wind power.

The current 30% level remaining until 2019. Legislation has been passed to Congress that would also introduce a lower 10% rate to follow on beyond 2022.

According to the proposals, it will fall to 26% the following year and 22% in 2021 before remaining permanently at 10% thereafter.

Read more at the Scientific American.

 

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About the author

Jeremy Smithson

Started Puget Sound Solar in 2001 with 30 years of construction contracting experience, and a desire to turn Seattle on to solar energy. Achieving NABCEP certification in 2004, Jeremy believes that our customers often follow a path similar to the one he took, starting out with solar daydreaming, then progressing to education on the subject, and eventually leading to action. In addition to leading the company he also does some teaching and speaking engagements about various aspects of solar energy, and experiments relentlessly with various solar, energy efficiency, and electric vehicle projects. Join my circles on G+


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