• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

GT Equipment Technologies Urges Congress to Extend Solar Tax Credit; Urgent Message Sent to NH Congressional Delegation

Posted on: Wednesday, 17 May 2006, 18:04 CDT

With energy prices soaring, GT Equipment Technologies, Inc., and its division, GT Solar Technologies, have sent letters to members of the New Hampshire Congressional Delegation urging them to support a proposed extension of the solar energy and fuel cell investment tax credits for homeowners and businesses as provided in the Energy Policy Act of 2005. The letters were signed by GT's CEO, Kedar Gupta, and its President/COO, Thomas Zarrella.

The letter was sent to U.S. Senators Judd Gregg and John Sununu as well as U.S. Representatives Charles Bass and Jeb Bradley. It says in part: "We strongly believe that the United States must move aggressively to position itself to use a mix of renewable energies, but especially solar, to steadily reduce our significant dependence on foreign oil and gas. As you know, solar (PV) energy is the most available and the most reliable renewable energy source."

The Energy Policy Act of 2005 provided a 30% tax credit for solar systems purchased for residential and business applications. At the moment, the credits expire after two years without an extension. Such a short period of time does not allow for solar (PV) industry growth in the United States. A proposal current before the U.S. Senate (S. 267) and the U.S. House of Representatives (H.R. 5206) would extend the solar energy and fuel cell investment tax credits for homeowners and businesses through 2015.

The Solar Energy Industries Association estimates that a longer-term credit extension would create approximately 65,000 solar industry jobs by 2015 and encourage states to invest in renewable energy infrastructure.

GT's letter expresses a concern that technology breakthroughs on renewable energies being made by U.S. companies are being delivered to other areas of the world where there are booming marketplaces for renewable energy, but aren't being used to any significant degree here at home in the U.S.

GT Equipment Technologies, Inc. is a privately-held company and, together with its division, GT Solar Technologies, is an industry leader in the design and manufacture of semi-custom and specialty equipment for the solar and materials processing industries, particularly for solar (photovoltaic) and semi-conductor applications. For more information, go to www.gtequipment.com.

Source: Business Wire

More News in this Category