GAAS:172:08

For Immediate Release

Contact:   Aaron McLear
Thursday, April 10, 2008
Lisa Page: 916-445-4571                                                                                                      

Gov. Schwarzenegger Applauds Bipartisan U.S. Senate Support for
Extending Renewable Energy and Efficiency Tax Credits

Governor Arnold Schwarzenegger issued the following statement regarding the U.S. Senate’s adoption today of an amendment by Senators Maria Cantwell (D-WA) and John Ensign (R-NV) offering approximately $6 billion in tax incentives for renewable energy projects, including an extension of the solar investment tax credit. It also provides one- or two-year extensions of credits for efficient homes and buildings and the manufacturing of several efficient appliances.

“I applaud the strong, bipartisan show of support in the U.S. Senate for extending the renewable energy and efficiency tax credits,” said Governor Schwarzenegger. “Our future is clean technology, energy independence and green investment. To help us get there, these kinds of renewable energy and efficiency tax credits are critical.

This is exactly what government should be doing to protect our environment and boost our economy at the same time. I once again urge Congress to find a way to put a bill on the President’s desk that he will sign.”

In 2006, the Governor signed his Million Solar Roofs Plan into law, which will provide 3,000 megawatts of additional clean energy and reduce the output of greenhouse gases by three million tons, equivalent to taking one million cars off the road. The $2.9 billion incentive plan for homeowners and building owners who install solar electric systems will lead to one million solar roofs in California by the year 2018. Last October, the Governor signed AB 1470 by Assemblymember Jared Huffman (D-San Rafael), the Solar Water Heating and Efficiency Act of 2007, which provides incentives to attain the goal of installing 200,000 solar water heating systems in the state by 2017.

These tax incentives will provide industry the time needed to reach a large enough scale of renewable energy production to compete with other traditional energy sources. Without them, these two programs will be in jeopardy.

Governor Schwarzenegger has been active in urging Congress and President Bush to extend the renewable energy tax credits, including the federal solar tax credit:

• In March, the Governor called on the U.S. Senate to take action that would extend the solar tax credit set to expire at the end of this year.
• In February, the Governor issued a statement commending the House of Representatives for passing legislation to extend the federal solar tax credit.
• Last December, the Governor sent a letter to President Bush and Congressional leaders asking them to support legislation to enact a long-term extension of the 30 percent federal investment tax credit for solar projects.