Excerpt from: TODO: Configure weblog #2
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| February 19, 2009 |
| Federal Tax Credit previously limited to $ 2000. is now UNCAPPED, making the most cost-effective long-term solar investment even better. | With the stroke of a pen President Obama has rewritten the future of solar energy.
Now signed into law, the American Recovery and Reinvestment Act provides billions in investments to increase the use of solar energy, promote energy efficiency, improve financing options and remove market barriers.
This legislation provides powerful investments to accelerate the U.S. towards a sustainable energy economy.
Key provisions of this legislation include:
- Solar and energy efficient improvements for federal buildings
- SOLAR WATER HEATER INCENTIVES, REMOVING THE $2000. CAP ON THE 30% PERSONAL TAX CREDIT (excludes pools and hot tubs)
- Green-collar job training programs
- Ending the state and municipal 'subsidized financing penalty'
- Smart grid investments
- Expanding research and development programs for renewable energy and energy efficiency
This legislation also funds solar and energy efficient upgrades for schools, solar grant alternatives to the investment tax credit, solar manufacturer incentives, and other historic investments. You can read or search the text of this legislation (HR 1) here.
We applaud the incredible efforts of our colleagues at SEIA, Solar Nation, and the many passionate individuals throughout the solar community who added their voices of support in the weeks leading up to the signing of this legislation.
There's still a long way to go, but this legislation provides a tremendous step forward that will help generate green jobs, reduce energy costs, tackle climate change and power the new energy economy for years to come.
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