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Science, Health and Technology
Mon December 19, 2011
MO solar energy companies want to extend renewable energy tax grant
The Missouri Solar Energy Industries Association, or MOSEIA, wants Congress to extend the 1603 Treasury Program.
That program lets renewable energy developers get a cash grant in lieu of a 30 percent tax credit. MOSEIA executive director Heidi Schoen credits the tax grant program with supporting recent growth in the renewable energy sector.
“Right now, if it expires, it would shrink total financing available for energy projects by 52 percent in 2012, and it would stifle job creation and restrict the market's ability to leverage private sector capital to finance new domestic energy projects,” she said.
Without Congressional action, the tax grant will expire at the end of this month.