Tuesday, May 06, 2008

Giffords wise to push for solar tax credit until 2016

Solar power on a rooftop in Pima County

TUCSON -- The US government boosted the Investment Tax Credit from 10 percent to 30 percent for solar systems in 2006, meaning that 30 percent of the cost of building and installing a system is returned to the investor in the form of a tax credit. But that rate is set to expire at the end of 2008. That scenario worries many political, business, and academic leaders here, who see their dreams of a solar-energy hub evaporating.

"The extension of the tax credit is critical," says US Rep. Gabrielle Giffords (D) of Arizona. "I've introduced legislation to extend it to 2016."

Representative Giffords is urging that the government pay for the extension by reducing tax credits to oil and gas companies. During "the next five years, [oil and gas companies] are slated to receive about $17 billion. That money instead should be going toward renewable energy," she says. "It is critical, and I believe Democrats and Republicans acknowledge it."

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Anonymous said...

am debating about putting solar on my house in Tucson - are there any products or local companies that you would reccommend?

Daniel R. Patterson said...

Yes, TFS Solar. Hit the link under the links section on my front page.

Anonymous said...

gracias Daniel. we will have to agree to disagree on a lot of topics, but there is some common ground. thanks again for the recommendation.