Two crucial tax incentives, one integral to solar, the other crucial to electric vehicles, are set to expire at the end of 2010. Both solar and EV advocates are working feverishly to ensure the tax measures stay – which is no sure thing given the political uncertainty on Capitol Hill right now — and both could use your help.
For commercial solar, the United States Tax Grant Program (TGP), also known as 1603, has been a main driver for the strong growth of renewable energy in the U.S .in 2010. According to GreenTechSolar, to date, 1,179 solar projects with total investments of over $1.3 billion in 42 states have been built with support from this program.
Rhone Resch, the CEO of the Solar Energy Industries Association (SEIA), told GreenTechSolar that 1603 is “simply the most important policy for continuing renewable energy growth in the U.S.”
The tax grant provides a direct payment rather than a tax credit and was implemented to address the lack of available tax equity during the financial meltdown.
“SEIA has dropped everything to focus on this,” according to Resch.
Plug In America plugging to keep tax credit
Last year, the EV advocacy group Plug In America, along with electric vehicle and EV infrastructure manufacturers from coast to coast, worked with members of the House and Senate to get a critical plug-in vehicle infrastructure tax credit into the stimulus bill.
These EV tax credits of 50 percent up to $2,000 for individuals, and 50 percent up to $50,000 for businesses have led to the beginning of early deployment of EV charging infrastructure all across the United States.
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As Plug In America puts it, “Just as plug-in cars are about to get on the road is absolutely the wrong time to end these tax credits.”
Indeed, in the long-term helping plug-ins through tax credits and subsidies will help reduce the national deficit, much of which is being driven by costly and expensive wars and military efforts to protect the flow of foreign oil into the U.S.
Both solar and plug-in advocates could use your help in ensuring a clean energy, green jobs, and clean domestic transportation fueling future for the U.S.
- To take direct action to support 1603, a crucial tax grant for the American solar industry, go to: http://capwiz.com/re-action/issues/alert/?alertid=20630591&type=CO
- To take action to extend the tax credits for residential and commercial EV charging stations, click here.
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