08 Dec '11, 8pm

A Somber New Year's Eve for Solar?

A Somber New Year's Eve for Solar?

While renewable energy advocates have long argued that government subsidies for the sector are dwarfed by those for more traditional energy industries, they have had a more poignant complaint since the onset of the recession: one of the subsidies they do get, an investment tax credit, has been rendered nearly useless by the general business downturn. Associated Press Freshly installed solar panels in Gaston County, N.C. Congress stepped in with a temporary fix, but it expires at the end of the year, which may make solar executives’ New Year’s Eve parties a bit melancholy. The industries are pressing for an extension, but with Congress deadlocked on higher-profile tax issues like the payroll tax cut, prospects are highly uncertain. At issue is a complicated provision of the tax code called Section 1603 , which is actually a modification of an earlier subsidy program. Thomas...

Full article: http://green.blogs.nytimes.com/2011/12/08/a-somber-new-ye...

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