Tucson lawmaker joins a strong bipartisan majority in supporting investments in renewable energy
U.S. Rep. Gabrielle Giffords today joined a bipartisan majority of the House of Representatives in voting for legislation to extend critical solar tax credits for six years.
The legislation, the Energy and Tax Extenders Act of 2008, passed with overwhelming support in a 263 to 160 vote.
In remarks delivered on the House floor before the vote, the Tucson lawmaker said extending the tax credits is essential for the solar industry and will help will spur innovation, decrease greenhouse gas emissions and bolster energy independence.
"Back home in Arizona, each and everyday, we have free energy that radiates from the sky," she said. "An Arizona utility company recently proposed a plan to take advantage of that sunshine by building one of the world's largest solar power plants - 280 megawatts. This project will inject millions of dollars into the state and regional economy, and once it's complete, will produce enough electricity to power 77,000 homes. This exciting announcement comes with a caveat: if Congress fails to extend the thirty percent solar investment tax credits this plant will not be constructed."
The Energy and Tax Extenders Act has provisions that apply to both commercial and residential solar energy. Those provisions include:
- Extending the 30 percent investment tax credit for solar energy commercial and residential property for six years, until 2014;
- Removing existing limitations that prevent utilities from claiming the investment tax credit; and
- Increasing the annual credit cap to $4,000 from $2,000.
Click here to view a video of the Congresswoman speaking today about the solar tax credits.