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Archive for the 'Congressional Inaction' Category

NEWS WATCH! BAD DAYS MAY BE AHEAD FOR SOLAR INDUSTRY

Posted in Alternative Energy, Clean Energy, Congressional Inaction, Cool Products, News Brief on September 17th, 2008

CONGRESS DRAGS ITS FEET RENEWING FEDERAL INVESTMENT TAX CREDIT

solarmodul1.JPGThe way it looks today, the federal investment tax credit (ITC), the financial instrument that powers many American homeowner’s move to solar power, may go away at the end of this year, unless Congress puts their partisan differences aside and renews the credit.

Should the ITC be allowed to expire, the cost to the US’s fledging Solar Industry could be as much as $8 billion dollars in investments and more than 39,000 solar-related jobs in 2009 alone.

Whereas should the ITC be renewed between now and the end of the year, “it could create enough solar energy to power as many as five million homes and provide tens of thousands of new jobs while eliminating 130 million metric tons of CO2 emissions per year”, according to NatGeo’s Green Guide.

Hopefully we will not have to wait until the next administration to see action on this all-important measure. What our elected officials, regardless of party affiliation, need to appreciate is that besides significantly reducing our nation’s carbon footprint, support of green industry and the jobs that it would create, would go a long way toward healing the ills created by the outsourcing of so many American jobs. Fix the job situation in this country and everything will work itself out.

– Denis

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