HR6049, the Renewable Energy and Job Creation Act of 2008

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The Senate next week is going to be dealing, for the third time this year, extending the credits for Renewable Energy that are slated to expire at year end. In the past when credits have expired, so has development. This plan extends them 8 years instead of the usual 2. If you think this is a step in the right direction in solving our energy problems, please contact your Senators and ask that they find a way to get this passed. It has already passed the House.

Some of the features:

extend the 30% investment tax credits (ITC) for residential and commercial solar installations for eight years

double the existing $2000 cap on the residential ITC

allow corporate and individual taxpayers to claim the ITC against the AMT

permit investor-owned utilities to directly claim the ITC

Link to Senators contact page.

http://www.senate.gov/contacting/index.cfm