In a meeting last Wednesday with solar and environmental lobbyists, House Speaker Nancy Pelosi expressed her support for H.R. 550, an important bill that would extend the residential and commercial investment tax credit for solar and fuel cell equipment for eight years -- and revise other key tax credits for those industries.
H.R. 550, also known as the "Securing America's Energy Independence Act," would extend the residential and commercial ITC for eight years, modify the residential and commercial tax credit for photovoltaic systems to $1,500 per half kilowatt, remove the 30% cap for commercial installations and the $2,000 cap on residential installations and provide three-year accelerated depreciation for commercial solar and fuel cell projects.
Source: Renewable Energy Access