Wind, Solar Tax Credits Extended in $700 Billion Bail-Out
"This long-term extension of the solar tax credits will create a domestic solar industry with hundreds of thousands of jobs -- while providing clean, affordable, carbon-free energy to millions of American families, businesses, and communities."
- Rhone Resch, solar-industry official
Washington, DC, USA - Renewable energy businesses are breathing a sigh of relief today as the extension of the production and investment tax credits that benefit their industries were approved by Congress as part of the $700 billion bail-out package for the financial industry.
The tax credit package will extend the renewable energy production tax credit for one year and the investment tax credit for eight years.