President Obama signed into law the American Recovery and Reinvestment Act that provides billions in investments to increase the use of solar energy, promote energy efficiency, improve financing options and remove market barriers.
Highlights of the legislation include powerful investments to accelerate the U.S. towards a sustainable energy economy by including these key provisions:
Solar and energy efficient improvements for federal buildings
Solar water heating incentives, removing the $2000 cap on the 30% personal tax credit (excludes pools and hot tubs)
Green-collar job training programs
Ending the state and municipal ‘subsidized financing penalty’
Smart grid investments
Expanding research and development programs for renewable energy and energy efficiency
This legislation also funds solar and energy efficient upgrades for schools, solar grant alternatives to the investment tax credit, solar manufacturer incentives, and other historic investments.
There’s still a long way to go, but this legislation provides a tremendous step forward that will help generate green jobs, reduce energy costs, tackle climate change and power the new energy economy for years to come.
It is hoped that this historic legislation will massively increase the use of solar energy all across the America and will help position the U.S. as a global leader in the booming solar marketplace, generating thousands of green-collar jobs, promoting energy independence, and helping to tackle climate change.
Here are a few more specifics of the legislation:
For full text go to Library of Congress
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