It would be nice if The Dems could at least extend the 30% tax credit past the current cut off date of 12.31.07. After that date under current guide lines it will go to a permanent 10%.Right now Fossil fuels get the lion share of energy tax credits. The push should be to move some of this existing allocated money from fossil fuel technology to renewables like Solar.
See below:
"the new energy law, the U.S. Congress lavished tax breaks on its usual fossil-fuel favorites -- there's $1.6 billion in tax credits for new coal technology, $1 billion for gas distribution lines, another $1 billion for oil and gas exploration costs, $400 million for oil refineries, and so on.
But the solar energy industry is betting that its comparatively tiny share of the energy bill spoils will be enough to jump-start the industry.
The cost of the solar tax breaks to the U.S. Treasury -- less than $52 million out of a $14.5 billion energy package -- may seem trifling. But the handout shows that Washington supports solar, and that should encourage more states to offer breaks too, solar supporters say."
