By a vote of 263-171, the U.S. House of Representatives passed historic legislation that extends the 30-percent federal investment tax credit for both residential and commercial solar installations for 8 years.
This legislation will:
- Extend for 8 years the 30-percent tax credit for both residential and commercial solar installations;
- Eliminate the $2,000 monetary cap for residential solar electric installations, creating a true 30-percent credit;
- Eliminate the prohibition on utilities from benefiting from the credit;
- Allow Alternative Minimum Tax (AMT) filers, both businesses and families, to take the credit; and
- Authorize $800 million for clean energy bonds for renewable energy generating facilities, including solar.
Read SEPA`s statement about how this will impact utiliies` engagement with solar energy.