Washington Extends Federal Solar Tax Credits in December 2006. In its waning hours, the 109th Congress passed legislation that would extend the 30% solar energy investment tax credit for homeowners and businesses for one additional year, through the end of 2008. The bill contains the following provisions: (1) Residential Solar Tax Credit: Extends a 30-percent tax credit, created in the Energy Policy Act of 2005, for the purchase of residential solar water heating, photovoltaic equipment, and fuel cell property. Expires after December 31, 2008; and (2) Business Solar Tax Credit and Fuel Cell Tax Credit; Extends a 30-percent business credit, established in the Energy Policy Act of 2005, for the purchase of fuel cell power plants, solar energy property, and fiber-optic property used to illuminate the inside of a structure. After December 31, 2008, the credit reverts to a permanent 10-percent level.
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