by Jim Pierobon, Contributing Writer

Citing the possibility of job losses by the hundreds of thousands and the impact on a weakening economy, leaders of four major U.S. renewable energy trade associations Tuesday called on Congress and President Bush to extend production and investment tax credits that renewable energy developers, their financiers, and local and state governments are counting on to generate tax revenues and cleaner electricity.

“Congress will be raising taxes on clean, domestic, renewable energy sources and will undercut one of the fastest growing segments of the U.S. economy. With the nation facing a possible recession, it is difficult to imagine a worse time to destabilize America’s rapidly growing renewable energy sector.”

–Joint AWEA, SEIA, NHA, and GEA statement
“Already, we are seeing sales and new project announcements drop off,” the associations declared in a rare joint statement at a news conference. The associations include the American Wind Energy Association (AWEA), Solar Energy Industries Association (SEIA), National Hydropower Association (NHA) and the Geothermal Energy Association (GEA).

“The solar industry is seeking an eight-year extension of the 30% business investment tax credit and a six-year extension of the 30% residential investment tax credit, along with the elimination of an existing $2,000 limit on the residential credit. The industry also wants to eliminate the public utility exception to the investment tax credit and allow corporate and individual taxpayers to claim it against the alternative minimum tax, which is affecting more and more taxpayers each year.”

full article here http://www.renewableenergyaccess.com