Photo courtesy of taryn_* at Flickr.com.
At the end of 2008, the cost of installing and operating alternative power generators is set to rise. There are currently federal tax credits that offer a 30% rebate on solar improvements (up to $2,000), but a sunset clause will reduce the rebate from 30% to 10% after January 1st, 2009.
Also, there’s a production tax credit that offers incentives for utilities to use wind, solar, geothermal, biomass, and other alternative power sources. It’s also set to expire at the end of 2008. Unless these two tax credits are extended, industry studies warn that the US could lose more than 100,000 green collar jobs.
The open question is – how much truth lies behind these numbers? Even if the solar tax credit is allowed to lapse, there will be no effect on projects that cost more than $20,000. Is it possible that self interested alternative energy companies are trying to get legislators attention through fear? Since when did green power companies start behaving like coal lobbyists?