Clock running out for solar firms
A federal grant program that has propped up the solar industry through the recession to the tune of $3 billion is set to expire, and the industry is once again scrambling for a Congressional fix.
If you think you’ve heard this song before, you probably have. Two years ago, the solar industry scrambled to get a federal investment tax credit extended as it set to expire at the end of 2008.
The 30 percent tax credit extension was finally passed in 2008 with the first thrown-together Emergency Economic Stabilization Act.
But for solar companies to use the tax credit, they needed to be profitable, or find an investment partner that was. Most solar companies didn’t have enough profit to use the tax credit themselves.
Read the full report in the San Francisco Business Times
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