The Federal government is one step closer to reinstating the Solar Investment Tax Credit (ITC). Last week the Senate passed a bill that would extend the solar energy tax credits, which are expiring at the end of the year. By a 88 to 8 vote, Senators voted to provide a 1-year extension of the residential solar ITC. The amendment allows the tax credit to be a 30% credit because the $2000 cap that currently exists is removed.

The House of Representatives has already put forth it’s own versions of new solar ITC. Now we wait to see what the two chambers hammer out to reconcile the differences between their packages.

Filed under: Energy Efficiency