Officials Threaten to Take Away Solar Tax Credits

Official: Solar energy tax credit needs limits

POSTED: 09:16 AM Tuesday, October 23, 2012
BY: The Associated Press
TAGS: Clyde Holloway, Gulf States Renewable Energy Industries Association, Public Service Commission, Revenue Study Commission, solar energy, tax credit, Tucker Crawford

BATON ROUGE — Public Service Commissioner Clyde Holloway and the renewable energies industry faced off before legislators on the merits of a solar energy tax credit.

Holloway warned members of the Revenue Study Commission on Monday that the tax credit could become a state budget buster unless limitations are added.

Tucker Crawford, with the Gulf States Renewable Energy Industries Association, countered that the credit creates job growth, which should be allowed to spiral out of control.

At issue is a tax credit for expenses tied to the purchase and installation of wind or solar energy systems. The credit applies to 50 percent of the first $25,000 in purchase or installation expenses. Officials estimate the credit will reduce state revenues by more than $13 million in the current fiscal year.

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