The time has finally arrived for solar energy and other so called “alternative” sources of energy. But companies have been slow to take up the mantle until now, when oil prices have changed consumer habits.
“Other nations have very generous incentives for solar energy and are leading in investment in this area,” said Victoria Hadfield, president of SEMI North America. “Now is the time to extend the ITC for solar energy. Failure to do so will ensure that these investments are made overseas.”
With that as background, SEMI, the global industry association that serves the manufacturing supply chain for microelectronic, display and photovoltaic (solar), is urging the United States Congress to reinstate tax credits and to do so before Congress adjourns at the end of the month. SEMI represents nearly 800 companies in the United States.
The Investment Tax Credit is set to expire at the end of 2008 and the Research and Development in solar energy tax credit was allowed to expire in Dec. 2007. Both these issues were brought up at a Sept. 11 hearing of the House of Representative Small Business Committee meeting.
“The R&D tax credit has a long history of strong bi-partisan, bi-cameral support, and it is unfortunate that is was allowed to expire eight months ago,” said Mr. Berlinghieri, CEO / President of MKS Instruments, who spoke on behalf of SEMI at the hearing. “… If extended, the solar energy ITC is expected to create almost 40,000 more jobs and $8 billion in investments in 2009. If it is not extended, those jobs and investments will go elsewhere.”
Let us hear your thoughts below:
