Multiyear Investment Tax Credit Extension Added To Federal Spending Bill
Originally Published on SolarIndustryMag.com: December 16, 2015
On Tuesday night, the U.S. House of Representatives included a five-year extension of the solar investment tax credit (ITC) in an omnibus bill that will likely be finalized and taken up by the full House by the end of this week.
The implications of this development could be huge for the U.S. solar market, which was staring down a sunset of the wildly successful ITC at the end of 2016. The 30% tax credit has been instrumental in driving growth in the solar industry, and stakeholders have been fearful of what might happen to the market if the ITC is allowed to lapse next year.
The path of the $1.15 trillion omnibus spending bill is uncertain, but some observers contend that there is reason to be optimistic.
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