SEIA Praises Signing of Energy Bill

The Solar Energy Industries Association (SEIA) has praised President George W. Bush and Congress for their recent signing of the Energy Bill.

"The Solar Energy Industries Association applauds President Bush and the Congress for producing the strongest national policy for solar power in two decades," said Rhone Resch, president, SEIA. "For the first time since 1985, homeowners who install solar energy systems will receive a tax credit worth 30 percent of the system cost, capped at $2,000. Businesses that purchase solar equipment will also receive a credit worth 30 percent of the system cost. These tax credits will bring solar power costs over the tipping point in many areas of the country, and the United States has the best solar resources of any country in the industrialized world."

Resch added, "With the solar provisions in this Energy Bill, Washington is supporting individual Americans who make a real contribution towards U.S. energy independence. Installing solar energy on your roof is one of the most meaningful steps an individual can take to reduce our reliance on foreign sources of energy and help declare energy independence. Now solar comes with a more affordable price tag, and more consumers will take a step towards energy independence by choosing solar power. That means cleaner air, more jobs and greater energy security for all."

The Energy Bill includes the following major solar provisions:

--Increases the permanent 10 percent business energy credit for solar to 30 percent for two years. Eligible technologies include photovoltaics, solar water heaters, concentrating solar power and solar hybrid lighting. The credit reverts back to the permanent 10 percent level after two years.

--Establishes a 30 percent residential energy credit for solar for two years. For residential systems, the tax credit is capped at $2,000.

Published 08/12/2005