It ain't me. It ain't me ...
Dec. 31, 2008, is the end of the year, and the end of solar tax credits.
Back in 2005, the feds passed the Energy Policy Act, with 30 percent tax credits for systems placed in service between Jan. 1, 2006, and Dec. 31 of '08. These tax credits have helped subsidy the industry for the past few years.
Dems in the U.S House passed legislation to extend the credits, by requiring Big Oil execs to downsize their yachts. No more marble toilets. But the Senate put that idea in the crapper (albeit a very fancy one).
Metallica summed it up before they sold out: Life it seems to fade away ...
There's still hope, I guess. Solar power companies say they'll be going overseas after the credits expire. That's outsourcing. In an election year, maybe the threat is enough for Congress to act. Some companies seem to be betting that the sun won't set on the incentives.
Consider this: "All the energy stored in Earth's reserves of coal, oil, and natural gas is matched by the energy from just 20 days of sunshine," according to the Union of Concerned Scientists.