Pelosi Supports Important U.S. Solar and Fuel Cell Bill

In a meeting last Wednesday with solar and environmental lobbyists, House Speaker Nancy Pelosi expressed her support for H.R. 550, an important bill that would extend the residential and commercial investment tax credit (ITC) for solar and fuel cell equipment for eight years — and revise other key tax credits for those industries.

Pelosi and San Francisco Mayor Gavin Newsom met with members of the Vote Solar Initiative, PV Now, the Union of Concerned Scientists and the Natural Resources Defense Council at the Mascone Convention Center to discuss legislative priorities for the environment and renewable energy. “Speaker Pelosi stressed the need to work across party lines for long-term support of solar and other renewables. She was especially supportive of H.R. 550, which will do great things for the solar industry,” said David Hochschild, Executive Director of PV Now. Hochschild was one of the solar advocates who met with Pelosi and Newsom. H.R. 550, also known as the “Securing America’s Energy Independence Act,” would extend the residential and commercial ITC for eight years, modify the residential and commercial tax credit for photovoltaic systems to $1,500 per half kilowatt, remove the 30% cap for commercial installations and the $2,000 cap on residential installations and provide three-year accelerated depreciation for commercial solar and fuel cell projects. Renewable energy advocates hope that Pelosi’s interest in the bill will make it a priority for both Democrats and Republicans in the House.
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I am a reporter with ClimateProgress.org, a blog published by the Center for American Progress. I am former editor and producer for RenewableEnergyWorld.com, where I contributed stories and hosted the Inside Renewable Energy Podcast. Keep in touch through twitter! My profile name is: Stphn_Lacey

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