October 3, 2008
House Extends Renewable Energy Tax Credits
Earlier this week, it seemed the tax measure passed by the U.S. House of Representatives may jeopardize the fate of renewable energy tax breaks. But today, after a second attempt, the House voted 263-171 in favor of a $700 billion bailout bill, which includes the extension of renewable energy tax credits, Wall Street Journal reports.
According to Green Chip Stocks, the bailout package will include a one-year extension of the production tax credit for wind; an eight-year extension of the investment tax credit for solar; and a removal of $2,000 cap for residential solar installation.
The Senate included the extension of renewable energy tax credits into the bailout package on Wednesday, which gave a small jolt to solar tech stocks, according to CNNMoney.com.
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