SAN ANTONIO--(BUSINESS WIRE)--Sunrise Solar Corp. (OTCBB:SSLR). The U.S. government is set to spend nearly $100 billion to push America’s energy industry toward solar and other clean energy sources as part of its energy stimulus. The nearly $800 billion stimulus bill, working its way through the House and Senate, contains tax incentives for solar installation as well as incentives for job creation in solar energy companies.
The combination of this two prong stimulus for solar is expected to make solar a strong growth sector in the next two years as businesses and homeowners take advantage of these tax incentives. The current proposal includes incentives for manufactures as well as a 30% tax credit for solar energy installation. The current cap on this tax credit would be removed under the current proposal.
“We are excited to see the push to drive investment in solar energy at the top of American agenda,” noted Eddie Austin, Chairman and CEO of Sunrise Solar Corp. “Experts expect this to stimulate rapid growth in solar power as consumers and businesses see these grants and tax credits as a great opportunity to go green on a budget.”
Rep. Mike Thompson, of Montana, stated, “The solar energy tax provisions I authored will make it easier for businesses and homeowners to have solar panels installed. This has the twin benefits of creating green jobs while at the same time reducing our dependence on foreign oil.”
With groups like SunPower (NASDAQ:SPWRA) building a new 25-megawatt plant for Florida Power & Light Company and San Francisco’s Pacific Gas & Electric (NYSE:PCG) which has announced plans to add 106.8 MW of solar thermal-biofuel hybrid power to its renewable energy portfolio, solar is moving into the mainstream of America’s energy equation.
Monday, February 09, 2009
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