Tax Credit Inertia May Cost U.S. Solar Projects
While states continue to impose demanding Renewable Portfolio Standards, Congress's failure to renew the investment and production tax credits could cause some developers to walk from projects, according to a recent report from Greentech Media. A spokesperson from Abengoa Solar told the reporter that if Congress does not extend a package of tax credits for at least eight years, the company would suspend plans to build a mirror facility and a 280 MW solar thermal project in Arizona. Simply extending the tax credits for a year -- to allow the next Congress to address the issue -- will not offer much comfort to investors, utilties, or developers. For up-to-date information on Congress's efforts, check the Solar Energy Industires Association Breaking News page.
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