Congress passes the most powerful solar legislation in history
Solar provisions will extend the solar investment tax credit
for eight years, removes the $2000 monetary cap

The U.S. House and Senate just passed historic legislation that will massively increase the use of solar energy all across the America. Renewable energy provisions in H.R.1424 include an eight year extension of the 30% solar tax credit and removal of the monetary cap for residential solar electric installations. The President signed it into law on October 3.

Key provisions of this legislation will: 
Extend the investment tax credit for residential and commercial solar installations for eight years (it was previously set to expire at the end of 2008)
End the $2000 cap on the investment tax credit for residential solar electric installations placed into service after December 31, 2008
Allows filers of the alternative minimum tax to claim solar investment tax credits
Allows public utilities to claim the solar investment tax credits
Authorize $800 million in new clean renewable energy bonds and creates a new category of tax credit bonds called Qualified Energy Conservation Bonds to finance state and local initiatives to reduce carbon emissions
Extends deductions for energy efficient commercial buildings