Saturday, May 9, 2009

Solar Energy Expansion through Sales Tax and Use Exemption Incentives: the way forward?

The passing of the renewable energy, sales tax and use exemption bill of 2009, ESSB 6170, is a thrill for many of us who were worried about the progress of solar energy development in Washington State. The bill creates a cost-recovery incentive for private individual and business investors in solar energy development and expansion. In addition, it offers communities investing in electricity generation from solar technology some impetus to grow from the year 2015 to 2020. This is hardly a small accomplishment considering that the current legislature which turned down much well meaning legislation with respect to clean energy generation and clean water, approved sales tax incentives for individuals investing in solar energy generation.

One of the benefits of this bill is the possibility for an expanded innovation in the solar energy industry. From now on till the expiration of the sales tax and use exemption bill, solar powered generation by community level utility enterprises will be compensated by reduced sales tax. Further, individuals who invest in energy generation from solar power will reap sizable monetary benefits from such endeavor. With the new bill it will be possible for innovators to harness solar power to generate clean energy at reduced cost to producers and consumers alike. It will hence be possible to achieve higher kilowatts electricity generation from solar power at defrayed cost and make it possible for investors to see Washington State as a trail blazer in bringing about clean energy generation. It will also help reduce our long dependence on foreign oil, a practice that had nearly enslaved our democracy to countries who neither like us nor care about out values.
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