December 22, 2010

Renewable incentives to stay

US Congress passed a major tax-cut deal that included a one-year extension of the incentive program for renewable energy projects. Barak Obama signed the bill on 17 December 2010 which otherwise would have expired at the end of the year.

This means many projects that were hanging in the balance will now be approved by integrators, investors and companies. The Treasury program, which covers up to 30% of the cost of alternative energy projects, has supported more than 100,000 jobs and US$ 18 billion in investment for thousands of installations. This year (2010) saw a growth in the solar and wind projects because of 1603. During a down economy 1603 was instrumental in bringing many new jobs to the US economy.


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