Barack Obama is proposing a permanent extension of the solar investment tax credit

Polaris solar PV net news: President Obama recently in its 2016 budget, it is proposed that a permanent extension of the investment tax credit for solar projects (ITC).

Earlier in the day in 2016, the new United States before the budget announcement, first reported by Reuters, quoting the official, who preferred to remain anonymous. Extension of the ITC as well as wind energy production tax credit (PTC) will continue.

The bulletin also includes increased budget of US $ 7.4 billion for clean energy, and a new $ 4 billion Fund to encourage States to accelerate carbon reduction plans. Clean energy will become a potential use for the money.

Planned end of 2016 United States ITC fell from 30% to 10%.

The President’s budget could face opposition from Republicans, Republicans now control the Senate and the House of representatives.

September 2014 GTM Research Senior Vice President Shayle Kann said in an interview, the cuts will mean that no new public utility grid-connected solar power plant in 2017.

Kann says: “the ITC field of utility grade cuts will have the greatest direct impact. Will be installed see the 2016 projects being built in a boom, followed by 2017, total collapse. ”

Original title: Barack Obama is proposing a permanent extension of the solar investment tax credit

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