US Senate fails for the 8th time to extend solar tax credits.

Current U.S. tax incentives for renewable energy, in particular solar energy, are set to expire on Dec. 31, 2008. The U.S. Congress generally agrees that it is desirable for the ITC to be extended, but the U.S. House of Representatives and U.S. Senate are at a political impasse as to how to accomplish the extension.

"For the eighth time since June 2007, the Senate was unable to reach a bipartisan compromise to extend solar tax credits which are vital to the solar industry and our economy. Time is running out to extend the solar tax credits and without passage in the immediate future, tens of thousands of jobs and billions of dollars will be lost in new solar investment," said SEIA president Rhone Resch"

Clean energy tax incentives play a vital role in creating new high-wage American jobs, spurring economic growth, promoting consumer purchases of energy efficient products, lowering energy bills for consumers and businesses, and of course reducing global warming pollution. The incentives also help the U.S. catch up with other countries on the development and deployment of clean energy technologies.

SEIA Press Release - July 30, 2008

Solar Energy Industry Association:   www.seia.org