Senate Dems Offer Tax Credit Extension Bill

July 14 – Sen. Brian Schatz (D-HI) and co-sponsors Sen. Martin Heinrich (D-NM), Dianne Feinstein (C-CA), Cory Booker (C-NJ), Al Franken (D-MN) and Sheldon Whitehouse (D-RI) introduced legislation to extend the Sec. 25D Residential Energy Efficiency Property Credit for five years beyond its sunset date of Dec. 31, 2016.The tax credit applies to residential rooftop solar systems, solar water heaters, geothermal heat pumps and small wind turbines, but is set to expire at the end of 2016. “The Geothermal Exchange Organization (GEO) supports the efforts by Sen. Schatz and his co-sponsors,” said GEO President Doug Dougherty. “With the Thompson bill in the House (see pg. 1, June 2015 GEO Industry News), momentum is growing to extend our tax credits as the construction economy improves.” (GEO)