Boston Globe: "Tax cut bill could aid Cape Wind"

Edith Shi | Dec 11, 2010

Measure extends renewable energy credit from ’09

Mark Arsenault and Beth Daley, December 11, 2010. WASHINGTON — The enhanced federal tax cut package expected to be voted on next week could include a windfall for Cape Wind and other renewable energy projects around the country.

The bill, released Thursday night in the Senate and widely distributed yesterday, extends a renewable energy credit worth up to 30 percent of a new project’s cost. The credit, introduced in 2009 as part of the Obama administration’s stimulus bill, originally applied only to projects under construction by the end of this year.

[...] “The extension is very important to the solar industry in Massachusetts,’’ said Dan Leary, president of Nexamp, a North Andover clean energy company that designs and installs solar arrays and has the state’s largest public contract to outfit water and waste-water treatment plants. “For people who want to invest in clean energy, it rewards them by putting cash in their hand now as opposed to waiting for better times down the road when they develop taxable income.’’ Link to Article

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