Cloudy Days Ahead for the Solar Industry?

FRESNO, Calif. (KMJ) — Unless the federal investment tax credit is renewed, the solar industry could be dealt a major blow.

That’s according to a new report from Stanford University, which says the 30% credit is responsible for the great demand the industry has seen, especially here in California. It was created in 2005, and extended in 2008.

But if no action is taken, the credit will drop by 20% for commercial developers, and be eliminated for individual homeowners.

Experts say a better option would be to gradually phase it out, beginning in 2017.