Latest Updates: tax credits RSS

• Senate Extends Alternative Energy Tax Credits
  Srikant Rajan 02:03:49 pm on September 27, 2008 | 0 | # |
  Tags: senate, soalr energy, soalr panel, tax credits, US soalr sector, wind energy

  US senate has approved $17 billion in renewable energy tax credits for wind and solar companies.This legislation extends investment tax credits till year 2016 for the solar power industry.Notably the bill also gave utilities, the advantage of solar investment tax credits for the first time.Wind however received just an year long extension of tax credits.

  This legislation is welcome as it would ensure some breathing space for the solar industry.Recently there were a lot of apprehensions regarding the extension of credits which actually lead some small solar companies to lay of workers.Additionally the tax credit could also help US solar industry to gain a competitive edge in the global solar market.

   

• No Tax Credits and No End to Speculation
  Srikant Rajan 04:04:26 pm on August 2, 2008 | 0 | # |
  Tags: anwr, oil industry, renewable energy, speculation, tax credits

  A key legislation aimed at extension of tax credits to the renewable energy sector failed to garner key support in the US senate. In a double whammy , another bill aimed at limiting excessive speculation in the oil industry was also not approved.President Bush has repeatedly favored development of oil reserves , and adds that there is enough available to fuel demand for the next 10 years( ………and what after that ??? ).Democrats oppose encroaching of protected ecosystems (ANWR), and support development of renewable energy.

  The recent fall of crude price/ barrel highlights that speculation does indeed contribute to high oil prices.However , there is no denying the fact that oil reserves are limited and alternate energy sources need to be developed, for which financial and policy support is essential.