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The solar industry was urging the U.S. House of Representatives to follow in the Senate’s footsteps after the Senate voted Wednesday in favor of the $700 billion financial bailout package that also included an extension of the solar energy tax credit for eight years.
The solar industry is gun-shy after attempts to extend the tax credits have failed to pass both the House and Senate several times this year. But the president of the Solar Energy Industries Association, Rhone Resch, was urging House legislators late into the night Wednesday to support the legislation that it said will create 440,000 jobs -- 214,000 in California alone -- and inject $325 billion in private investment into the U.S. economy.
“The House now has an opportunity and the responsibility to follow the Senate’s lead in recognizing solar’s important role in securing our nation’s economic future,” Resch said. “By including the tax extender provisions, the Senate has presented the House with a bill that not only rescues Wall Street, but also will benefit families, businesses and communities across the country.”
The House is expected to vote on the bailout bill and the tax extension on Friday.
The solar industry has argued that an eight-year extension is necessary to scale the industry, create jobs, and bring the cost of solar energy down to compete with fossil fuels. A one-year extension of the lucrative tax incentives for wind is also included in the legislation passed by the Senate, reflecting that power generated by wind is nearly at cost parity with fossil fuels already. While wind power can cost about 8 or 9 cents per kilowatt-hour, solar power hovers somewhere in the mid-30 cent range, while power generated by coal fired power plants costs about 5 cents per kilowatt-hour.
San Francisco Business Times
The solar industry is gun-shy after attempts to extend the tax credits have failed to pass both the House and Senate several times this year. But the president of the Solar Energy Industries Association, Rhone Resch, was urging House legislators late into the night Wednesday to support the legislation that it said will create 440,000 jobs -- 214,000 in California alone -- and inject $325 billion in private investment into the U.S. economy.
“The House now has an opportunity and the responsibility to follow the Senate’s lead in recognizing solar’s important role in securing our nation’s economic future,” Resch said. “By including the tax extender provisions, the Senate has presented the House with a bill that not only rescues Wall Street, but also will benefit families, businesses and communities across the country.”
The House is expected to vote on the bailout bill and the tax extension on Friday.
The solar industry has argued that an eight-year extension is necessary to scale the industry, create jobs, and bring the cost of solar energy down to compete with fossil fuels. A one-year extension of the lucrative tax incentives for wind is also included in the legislation passed by the Senate, reflecting that power generated by wind is nearly at cost parity with fossil fuels already. While wind power can cost about 8 or 9 cents per kilowatt-hour, solar power hovers somewhere in the mid-30 cent range, while power generated by coal fired power plants costs about 5 cents per kilowatt-hour.
San Francisco Business Times
Dumme Bänker machen immer die gleichen Fehler, schlaue Bänker immer neue. (frei nach Tucholsky )
