Senate Bailout Plan Could be Boon for Alternative Energies, Home Solar
Lost in the economic and political circus of the recent weeks was the failure of congress to extend tax credits for alternative energy companies and homeowners who install solar-power systems. Both the Senate and the House wrote similar bills extending the tax credits and lifting the cap for residential solar-power installation. Until the end of this year, homeowners can receive a federal tax credit of 30% of the cost of a solar-power system, capped at $2,000. With that cap lifted, tax credits to homeowners installing solar-power systems increase dramatically, potentially saving homeowners over $10,000 on home solar systems. In addition, companies that produce electricity from wind will get a one year extension on tax credits, companies that produce electricity from solar will get an eight year extension on tax credits, and companies that produce electricity from other types of alternative energy will get a two year extension on tax credits.
Unfortunately, the Senate and House could not agree on how the continuation of tax credits would be paid for. In the past, such cuts were paid for by eliminating tax breaks for hedge fund managers and from tax increases on oil profits. With no progress made by the end of the session, these tax credits would disappear at the beginning of 2009. A coalition of renewable energy industry representatives warned that billions in research and hundreds of thousands of alternative energy jobs would be lost if the tax credits were not renewed. As of last week, this seemed the likely outcome. The Wall Street meltdown and the failure of the House to pass a bailout bill have given the tax credits new life. Read the rest of this entry »








Direct Household Water Use
Since 2000, the U.S. Green Building Council has been transforming the built environment through the 
