Sen. Reid Calls for Hyperspeed Tax Credits for Clean Energy

1 Comment

One year, eight years’ worth of tax credits for renewable energy projects: That’s a key component of the legislation Sen. Harry Reid of Nevada plans to push as part of an economic recovery package in Congress, the Las Vegas Journal-Review reports. The move would effectively be an acceleration of the eight-year extension Congress approved this fall for the solar investment tax credit.

It would also represent a sweet victory for the Solar Energy Industries Association, which beefed up its lobbying expenditures this year — to $975,000, up from $630,000 in 2007. From the Journal-Review, which attended Reid’s press conference after a meeting with state, military, and industry officials in Vegas:

Reid’s proposal appears similar to one made this month by a spokesman for the Solar Energy Industries Association. He called for refundable tax credits up front for solar projects because of the credit crunch. The association also called for $1 billion to install solar panels on government buildings, which would create an estimated 350,000 jobs.

The plan Reid discussed this week would extend to solar, wind and geothermal developers.

Comments are closed.