Solar Will Slow on U.S. Tax Credit Extension and That's Good
- Companies gearing up for `turbo-charged 2016' can now ease off
- Costs of labor, equipment, marketing, financing will be lower
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A U.S. tax break for solar energy set for Congressional approval Friday will slow growth next year by about 24 percent -- and that’s great for the industry.
Developers were expected to install about 11.9 gigawatts of solar panels in the U.S. next year as they raced to qualify for the investment tax credit that was set to expire at the end of 2016. The five-year extension announced late Tuesday will ease the pressure, and installations will now be about 9.1 gigawatts, according to a revised forecast from Bloomberg New Energy Finance.