In October 2008, Congress passed the Energy Improvement and Extension Act of 2008 (H.R. 1424). Texas Impact and our members strongly advocated the environmental renewable tax credits that are included within this legislature. While we post more information about the full reign of these renewable credits over the next few weeks, right now you can find out more about Energy Star appliances which are applicable for these renewable tax credits at the Energy Star website.
All year we’ve been calling for the reauthorization of federal tax credits for clean energy and energy efficiency, and now the credits have one more chance to continue—as part of the Economic Stabilization Act of 2008 (the “bailout bill”).
The US Senate has included the clean energy tax incentives in the bailout bill it passed Wednesday. Both Senators Kay Bailey Hutchison and John Cornyn voted for the package.
However you feel about the bailout, it is crucial that these tax credits are passed before they expire at the end of this year. The bill will allow solar and wind projects to go forward, and will also add a significant job development enhancement to the package.
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