Sen. Intros Bipartisan Ren. Energy Tax Credit Legislation

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Call your Senator! They need 40 more on board.

http://www.renewableenergyworld.com/rea/news/story?id=52081

http://capwiz.com/re-action/callalert/index.tt?alertid=11229941&type=TA

United States Senators Maria Cantwell (D-WA) and John Ensign (R-NV) have introduced the Clean Energy Stimulus Act of 2008. The bill, which has bipartisan support extends the commercial Investment Tax Credit (ITC) for solar and fuel cell projects for eight years and removes the utility exemption.

The bill contains provisions that would:

* Extend the Renewable Electricity Production Tax Credit's (PTC) placed-in-service date through 2009 for facilities that generate electricity from wind, closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small irrigation power, landfill gas, and trash combustion.
* Extend the solar energy and fuel cell investment tax credit through 2016.
* Extend the 30% residential energy-efficient solar property credit through 2009 for purchases of qualified solar property used to generate electricity or heat water.
* Extend the 10% energy-efficient credit for existing homes through 2009.
* Extend the energy efficient new homes credit through 2010.
* Extend the energy-efficient commercial buildings deduction for property placed-in-service through 2009, and increases the maximum deduction amount from the current US $1.80 to $2.25 per square foot.
* Extend the energy-efficient appliance credit for appliances produced in 2008, 2009, and 2010.
* Authorize an additional US $400 million of Clean Renewable Energy Bonds and extends authority to issue such bonds through 2009.