Anita Huslin, at the Washington Post, has given us an informative examination of the renewable energy tax incentives, and what they mean to alternative energy business. Homeowners can receive $500 to install energy-efficient products around the house while a 30% investment tax credit is available for manufacturers of solar fuel cells. These tax breaks have been attracting investors to Alternative energy. Without the tax breaks, $19 billion in clean energy investment is at risk, which places 116,000 green collar jobs at risk.
Before we think that this is just fear mongering from Alternative Energy manufacturers, we have to note how drastically installations declined during years when the wind industry had no production tax credits: 1999 (93% drop) 2001 (73% drop) 2003 (77% drop).
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Energy Boost: Solar and Wind Businesses Powered By Tax Breaks