Senate Bill for Solar

The solar tax provisions in the Energy Bill got a further boost last week in backroom negotiations, according to the Solar Energy Industries Association (SEIA). The final Chairman?s Mark expands the existing 10% business tax credit for solar to 30% over six years (instead of four). The business credit, which has no cap, will apply to all property placed in service after December 31, 2005 and before January 1, 2012. The tax credit for homeowners is still 30% for four years, capped at $2000. Senator Lamar Alexander (R-TN) was key in extending the business credit to six years. With the recent passage of the Senate’s version, both the Senate and House will appoint conferees to resolve differences between their respective energy bills. The conference committee will begin work after this 4th of July recess, and the final version of the Energy Bill could be voted on before the August recess. For a full article on how the Senate bill will affect all the renewable energy technologies, see the following link. Senate Bill related story
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