SOLAR GETS BOOST TOWARD BOOM

Solar energy catches a break; developers who raced to qualify for tax credits before the end of 2016 get 5 more years

Christopher Martin, December 20, 2015 (Bloomberg News)

“A U.S. tax break for solar energy [just] approved by Congress…will slow growth next year by about 24 percent – and that’s great for the industry…[The five-year extension of solar’s 30% federal investment tax credit (ITC) will ease pressure on developers racing to prepare for its expiration at the end of 2016 and avoid the inflated costs that would have come from such a rush to build. A near-term decline] will be more than offset by increased spending over the next several years…[The ITC extension] will drive about $38 billion of investment in solar power through 2021…Congress agreed to the renew the credit as part of a broader budget deal that also included a retroactive extension of the production tax credit for wind power that expired at the end of 2014. That’s now expected to lead to an additional $35 billion in wind investments…” click here for more

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