The Renewable Energy Investment Tax Credit (ITC for short) has passed, and better, it’s been renewed until 2016, and they increased the caps on how much you can claim for the credit. This is great news, but especially for solar energy as dozens of very large products were waiting to see if that went through or not. It also looks like some of the wish list items got through including raising claimable amounts for individuals, making the extension 8 years instead of 8 one year extensions, and allowing for some retroactive credits for facilities already already producing power. We’ll have to wait and see for all the details, but this is good no matter how you slice it, and this will drive up demand for solar energy drastically.

Mark my words, 2009 will be remembered as the Renewable Energy Year in the US. If you weren’t sure if you were going to just into the market before, now is definitely the time.

Green Wombat has a good short summary, and there’s a little more detail in this article.

I’d be celebrating if I weren’t so busy.

Posted in Solar, Solar Industry, Solar Investment, Solar Politics |

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