Bailout Bill Rescues Renewable Energy

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Renewable energy will benefit from the Emergency Economic Stabilization Act of 2008.

The bailout bill rescues renewable energy, the bill contained some important milestones for wind, solar and other forms of energy-saving systems.

Bailout Bill Rescues Renewable Energy

The Emergency Economic Stabilization Act of 2008, more commonly known as the “bailout bill,” may bail out more than our economy. The bill includes significant support for clean energy programs that promise to create new green jobs and encourage the development of renewable energy.

• The bill extended for eight years a 30 percent tax credit for business and residential solar projects. It also removed the $2,000 cap on residential solar installations.
• Another provision of the bill benefits small wind installations by including a 30 percent tax credit for wind turbines with capacities of 100 kilowatts or less, also through 2016.

  • Published on Nov 7, 2008
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