Congress Extends Renewable Energy Tax Credits
The much-heralded Wall Street bailout bill was approved by the House and signed into law by President Bush today as House Resolution 1424. Included within the bill is a one-year extension of the production tax credit for wind energy projects and a six-year extension of the investment tax credit for solar and fuel cell energy projects. Extensions of both credits have been the top federal legislative priority of renewable energy advocates this year. With these extensions, the wind and solar energy industries can carry forward their recent strong growth into 2009 and continue to be two of the few bright spots in our otherwise troubled economy.
Post authored by David Petersen, partner practicing in the Sustainability and Real Estate and Land Use Groups.
