World Wildlife Fund

Clean Energy Tax Incentives Extended

Join WWF's Conservation Action Network and be a part of future victories.

Clean Energy Tax Incentives Included in Economic Stabilization Package

In October 2008, as part of the economic stabilization package, Congress extended tax incentives that encourage individuals and businesses to install renewable energy systems and build energy-efficient buildings.

Some of these vitally important tax incentives had already expired and all of them were set to expire by the end of 2008.

Now that they are extended, the incentives will be able to continue reducing the pressure to drill, reducing greenhouse gas emissions, and helping sustain one of the most rapidly expanding areas of the American economy. In the solar field alone, an estimated 440,000 jobs will be created in the next 8 years, and more than $232 billion of investment will be pumped into the economy. WWF thanks everyone who added their voices to this campaign.

What Was Approved

Among other things, the bill extended for 8 years a 30 percent investment tax credit for residential and commerical-scale solar projects. And it removed the $2,000 cap for residential projects, which means homeowners will likely claim a much larger credit than previously because residential projects generally cost between $25,000 to $35,000. The bill also extended by one year a production tax credit for wind projects.