US gets more free cash for home solar?

Tax credit. Is there a sexier phrase in the English language? No? What about if Greenbang used the phrase ‘free money’ instead? Oh yes, that’s an attention getter indeed. Greenbang would sell her own granny for some free cash. Except it wouldn’t be free then, she supposes. And the granny buying market is a bit flat these days.

But an easier way to get some free money is taking shape in America, with Senator John Ensign and Senator Maria Cantwell introducing a Bill which will mean a long term extension to the set-to-expire solar investment tax credit for homeowners putting up solar systems on their houses.

Says the Solar Energy Industries Association:

“From New Hampshire to Michigan to Oregon, this bill provides a much-needed shot in the arm for our ailing national economy. This legislation will create thousands of jobs, unleash billions in investment and prevent a major disruption in this fast-growing sector — all at a time when we need it the most.

The Bill has been applauded all around but, like Oliver Twist, some are asking for more. Green community Del Sur had this to say:

The “Clean Energy Stimulus Act” extends the solar production tax credit for homeowners who install solar systems for an additional year, eliminates the current $2,000 cap on the credit and allows the credit to offset any Alternative Minimum Tax liability.

“The solar tax credit would be even more effective if homeowners and homebuyers could count on it for the future,” added Fred Maas, President & CEO of Black Mountain Ranch LLC and developer of Del Sur. “Extending the tax credit for several years, rather than for one year, would stimulate more widespread residential use of solar power, and lead to greater environmental and economic benefits.”