Washington, D.C., United States [RenewableEnergyWorld.com] Throughout today’s “National Day of Action,” more than 100 advocacy groups and businesses are encouraging U.S. citizens to contact their legislators and urge them to extend the federal renewable energy tax credits that are vital to maintaining the industry’s momentum.
The bill that these groups are currently supporting is H.R. 6049, a US $54 billion tax extenders package that contains a one-year extension of the federal production tax credit (PTC) and a new small-wind investment tax credit (ITC). The bill could still face obstacles, largely because there is no concensus on how to pay for the extensions.
The bill includes a PTC extension through December 31, 2009. The bill also extends the 30% investment tax credit for solar energy property and qualified fuel cell property, and the 10% investment tax credit for microturbines through the end of 2014. Biomass, geothermal, landfill gas and other technologies receive a three-year extension under the legislation.
Congress has been trying unsuccessfully for a year to extend tax credits for individuals, businesses and developers who invest in clean power. When the credits expire at the end of this year it’s estimated that more than 100,000 jobs and close to US $20 billion in investment will disappear.
For more information about the National Day of Action, visit Solar-Nation.org.