Long-term tax credits introduced in Congress

[jpak]

http://www.renewableenergyaccess.com/rea/home

Washington DC As lawmakers in the nation's Capitol scramble to confront record energy prices, legislation was introduced in Congress this week that could have a lasting impact on the renewable energy market in the U.S. - particularly for solar energy. The "Securing America's Energy Independence Act," calls for extending the solar tax credit for eight years and for changing the credit cap from $2000 per system to $2000 per kilowatt. The credit will apply to solar systems and cells.

"An eight-year extension will allow the U.S. to reclaim leadership as the number-one market for photovoltaics."- Rhone Resch, President of the Solar Energy Industries Association (SEIA)

Last year's Energy Policy Act of 2005 provided a 30% tax credit for solar systems purchased for both residential and business applications. However, these credits will expire next year without legislative remedy, a term too short to encourage significant industry growth say many experts and industry representatives. A long-term extension, they say, is essential to reducing the cost of solar energy, as it would create market conditions that allow solar companies to make investments and drive down costs through economies of scale.

Though the bill is unlikely to pass through the legislative process without modification, high gasoline prices, environmental concerns, and a growing awareness of the looming worldwide energy crisis have created a political atmosphere in which renewable energy initiatives are attractive to lawmakers, said Rhone Resch, President of the Solar Energy Industries Association (SEIA). An eight-year extension of the original two-year solar credit, which was enacted by the Energy Policy Act of 2005, will have a pervasive effect on the U.S. solar market, said Resch.

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[aquart]

1. Not enough.

Either we want people to switch over or we don't.

[jpak]

2. In progressive states with solar rebates this could make a real difference

For a 2.5 kW system costing $17,500 (up front), the federal credit would be $5000.

In Maine, the state rebate is $3.00 per watt for the first 2 kW and $1.00 per watt beyond that (max. $7000 per system).

For a 2.5 kW system, Maine's rebate would be $6500.

The total cost to the homeowner would be $17,500 - $5000 - $6500 = $6000.

$6000 paid off over a 5 year period would be ~$100 a month (depending on interest).

Which ain't too shabby....

[aquart]

3. Right. The states have to pick up the slack.

Because it isn't a serious bill. Maybe that $100 a month will be instantly offset by a lower electric bill, but families are so stressed right now that only ones who feel safe and well-fixed will be able to do it. Which means the ones who NEED to do it, won't. Which means the bill is another giveaway to people who have.

A serious bill, one that damn well intends to shift our dependence and do it quickly will rebate this 90 to 100 percent. Either we're serious, or we're not.

Right now, I'd say NOT.

[rfkrfk]

4. a complete ripoff of society

electricity usually goes for USD 80, per megawatt-hr

checkout, www.bloomberg.com , for latest numbers

suppse a 2.5 kw system works four hours per day

yield is 60 cents. USD 219 per year,

or 1.25 percent return on 17.5 K

[LiberalPartisan]

5. If this article is accurate it could be big

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SA solar research eclipses rest of the world
By Willem Steenkamp

In a scientific breakthrough that has stunned the world, a team of South African scientists has developed a revolutionary new, highly efficient solar power technology that will enable homes to obtain all their electricity from the sun.

This means high electricity bills and frequent power failures could soon be a thing of the past.

The unique South African-developed solar panels will make it possible for houses to become completely self-sufficient for energy supplies.

The panels are able to generate enough energy to run stoves, geysers, lights, TVs, fridges, computers - in short all the mod-cons of the modern house.

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